Financial risks and the Pension Protection Fund : can it survive them?
|Title:||Financial risks and the Pension Protection Fund : can it survive them?||Authors:||Blake, David
|Permanent link:||http://hdl.handle.net/10197/1185||Date:||Nov-2006||Abstract:||This paper discusses the financial risks faced by the UK Pension Protection Fund (PPF) and what, if anything, it can do about them. It draws lessons from the regulatory regimes under which other financial institutions, such as banks and insurance companies, operate and asks why pension funds are treated differently. It also reviews the experience with other government-sponsored insurance schemes, such as the US Pension Benefit Guaranty Corporation, upon which the PPF is modelled. We conclude that the PPF will live under the permanent risk of insolvency as a consequence of the moral hazard, adverse selection, and, especially, systemic risks that it faces.||Type of material:||Working Paper||Publisher:||University College Dublin. School of Business. Centre for Financial Markets
University College Dublin. School of Business
|Copyright (published version):||2006, Centre for Financial Markets||Subject LCSH:||Pensions--Great Britain
Pension trusts--Finance--Law and legislation
|Other versions:||http://www.ucd.ie/bankingfinance/docs/wp/blake%20cottter%20dowd%20wp%2007%2003.PDF||Language:||en||Status of Item:||Not peer reviewed|
|Appears in Collections:||Centre for Financial Markets Working Papers|
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