A Pension fund is a pool of assets forming an independent legal entity that are bought with the contributions to a pension plan for the exclusive purpose of financing pension plan benefits. A pension is a steady income given to a person upon Retirement, typically in the form of a guaranteed annuity.

Pension funds are important shareholders of listed and private companies. They are especially important to the stock market where large institutional investors like the Ontario Teachers' Pension Plan dominate. Institutional investors are organizations which pool large sums of money and invest those sums in companies The Ontario Teachers' Pension Plan (OTPP commonly referred to as Teachers', is the organization responsible for administering pensions for Public school teachers The largest 300 pension funds collectively hold about $6 trillion in assets. ^[1] In January 2008, The Economist reported that Morgan Stanley estimates that pension funds world-wide hold over US$20 trillion in assets, the largest for any category of investor ahead of mutual funds, insurance companies, currency reserves, sovereign-wealth funds, hedge funds, or private equity. The Economist is an English-language weekly news and International affairs publication owned by The Economist Newspaper Ltd and edited in London Morgan Stanley ( is a global Financial services provider headquartered in New York City New York United States A mutual fund is a professionally managed type of collective investments that pools money from many investors and Invests it in Stocks bonds, Insurance, in Law and Economics, is a form of Risk management primarily used to hedge against the Risk of a contingent loss Foreign exchange reserves (also called Forex reserves) in a strict sense are only the foreign Currency deposits held by Central banks and monetary A sovereign wealth fund ( SWF) is a state-owned Investment fund composed of financial Assets such as Stocks, Bonds, A hedge fund is a private Investment fund open to a limited range of investors which is permitted by regulators to undertake a wider range of activities than other investment In Finance, private equity is an Asset class consisting of equity Securities in operating companies that are not Publicly traded on ^[2]

Contents 1 Classifications 1.1 Open vs. closed pension funds 1.2 Public vs. private pension funds 2 Examples 2.1 Canada 2.1.1 Government 2.1.2 Private 2.2 United States 2.2.1 Government 2.3 Chile 2.4 The Netherlands 2.5 Singapore 3 Largest Pension funds 4 References 5 See also

Classifications

Open vs. closed pension funds

Open pension funds support at least one pension plan with no restriction on membership while closed pension funds support only pension plans that are limited to certain employees. [1]

Closed pension funds are further subclassified into:

• Single employer pension funds
• Multi-employer pension funds
• Related member pension funds
• Individual pension funds

Public vs. private pension funds

A public pension fund is one that is regulated under public sector law while a private pension fund is regulated under private sector law. In certain countries the distinction between public or government pension funds and private pension funds may be difficult to assess.

Examples

Canada

Government

• Caisse de dépôt et placement du Québec
• Canada Pension Plan
• Alberta Investment Management

Private

• Ontario Teachers' Pension Plan (union-controlled)
• Hospitals of Ontario Pension Plan (HOOPP)

United States

Government

• California Public Employees' Retirement System (CalPERS)
• California State Teachers' Retirement System (CalSTRS)
• Federal Retirement Thrift Investment Board
• Illinois Municipal Retirement Fund
• Retirement Systems of Alabama
• Kansas Public Employees Retirement System (KPERS)
• Kansas City Public School Retirement System (KCPSRS)
• Minnesota Public Employees' Retirement Association (MNPERA)
• Minnesota Teachers' Retirement Association (MNTRA)
• Fire and Police Pension Association of Colorado (FPPA)

Chile

• Chile pension system

The Netherlands

• Stichting Pensioenfonds ABP (ABP)
• PGGM

Singapore

• Central Provident Fund

Largest Pension funds

Country Fund Assets $Billion Inception Origin Approx wealth per citizen  Japan Japan Government Pension Investment $935. Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page The Caisse de dépôt et placement du Québec (CDPQ manages public Pension plans in the Canadian province of Québec. The Canada Pension Plan ( CPP) is a contributory earnings-related Social insurance program Alberta Investment Management Corporation (AIMCo is a Crown corporation that is responsible for investing the Province's Sovereign wealth fund, the Alberta Heritage The Ontario Teachers' Pension Plan (OTPP commonly referred to as Teachers', is the organization responsible for administering pensions for Public school teachers The United States of America —commonly referred to as the The California Public Employees' Retirement System (CalPERS provides Pension fund, healthcare and other retirement services for approximately 1 The California Public Employees' Retirement System (CalPERS provides Pension fund, healthcare and other retirement services for approximately 1 The California State Teachers' Retirement System, known as CalSTRS administers retirement disability and survivor benefits for California's 813000 public school educators and their families The California State Teachers' Retirement System, known as CalSTRS administers retirement disability and survivor benefits for California's 813000 public school educators and their families The Illinois Municipal Retirement Fund (or IMRF) is a pension fund created in 1939 by the Illinois General Assembly for municipal employees in the state Retirement Systems of Alabama is the administrator of the Pension fund for employees of the state of Alabama. The Pension System -Spanish Sistema Previsional - refers to old-age disability and survivor pensions for workers in Chile The Netherlands ( Dutch:, ˈnedərlɑnt is the European part of the Kingdom of the Netherlands, which consists of the Netherlands the Netherlands Stichting Pensioenfonds ABP ("National Civil Pension Fund" frequently referred to as ABP is the Pension fund for government and education employees in the Singapore The Central Provident Fund ( Abbreviation: CPF; Chinese: 公积金 Pinyin: Gōngjījīn) is a compulsory comprehensive Social For a topic outline on this subject see List of basic Japan topics. 5 N/A Non-commodity N/A  Netherlands ABP $273. The Netherlands ( Dutch:, ˈnedərlɑnt is the European part of the Kingdom of the Netherlands, which consists of the Netherlands the Netherlands 9 N/A Non-commodity N/A  Canada (Quebec) Quebec Pension Fund Caisse de dépôt et placement du Québec $258 1965 Non-commodity N/A  United States (California) California Public Employees Pension Fund $218. Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page Quebec (kwɨˈbɛk The Caisse de dépôt et placement du Québec (CDPQ manages public Pension plans in the Canadian province of Québec. The United States of America —commonly referred to as the California ( is a US state on the West Coast of the United States, along the Pacific Ocean. 2 N/A Non-commodity N/A  Canada Canada Pension Plan Investment Board CPP Investment Board $123 1997 Non-commodity N/A  Canada (Ontario) Ontario Teachers' Pension Plan $109 1990 Non-commodity N/A

References

1. ^ Global Investment Review
2. ^ The Economist Jan 17, 2008 (economist.com)

See also

• Global assets under management
• Pension insurance contract

Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page Under the direction of the then Canadian Finance Minister Paul Martin, the CPP Investment Board was created in 1997 as an organization independent of the Country to "Dominion of Canada" or "Canadian Federation" or anything else please read the Talk Page Ontario (ɒnˈtɛrioʊ is a province located in the central part of Canada, the largest by population and second largest after Quebec The Ontario Teachers' Pension Plan (OTPP commonly referred to as Teachers', is the organization responsible for administering pensions for Public school teachers Global asset allocation or Global assets under management consists of Pension funds, Insurance companies and Mutual funds. Pension insurance contract is an insurance contract that specifies pension plan contributions to an insurance undertaking in exchange for which the Pension plan benefits will

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