Funkcjonowanie państwowych funduszy rezerwowych o celu emerytalnym na przykładzie doświadczeń Norwegii

##plugins.themes.bootstrap3.article.main##

Joanna Rutecka

Abstrakt

Pensions reserve funds are permanent elements of social security systems in many countries. In others they play important role of a useful solution that helps to alleviate temporary deficits in social security. One of the few countries that gath‑ ered very large pensions reserves is Norway. It is an excellent example of a country that uses oil revenues to fulfil the long ‑term liabilities of the social security system and promote solidarity between generations. The article analyses the sources of fundraising and methods of asset management used in Norwegian public reserve funds. The collection of large reserves was possible only due to permanent sur‑ plus in state budget resulting from oil revenues. Assets collected in the fund were then invested in highly diversified and long ‑term portfolio that proved to be very effective. Norwegian pension reserve fund Global showed that the right strategies of asset allocation and broad geographical diversifications may result in rates of return much higher than constructed benchmarks. Moreover, it can also meet the expectations of ethical and socially ‑responsible investments.

Pobrania

Dane pobrania nie są jeszcze dostepne

##plugins.themes.bootstrap3.article.details##

Jak cytować
Rutecka, J. (2014). Funkcjonowanie państwowych funduszy rezerwowych o celu emerytalnym na przykładzie doświadczeń Norwegii. Kwartalnik Kolegium Ekonomiczno-Społecznego. Studia I Prace, (4), 127-141. https://doi.org/10.33119/KKESSiP.2014.4.5
Dział
Dział główny

Bibliografia

 M. Mosionek‑ ‑Schweda, Norweski państwowy fundusz emerytalny jako inwestor na światowych rynkach finansowych, w: Ekonomiczne i społeczne aspekty reform emerytalnych – Polska i świat, red. M. Szczepański, Wydawnic‑ two Politechniki Poznańskiej, Poznań 2012, s. 116
 Management Mandate for the Government Pension Fund Norway, http://www.ftf.no/images/Marke‑ ting/Rammeverk/Management%20mandate%20for%20the%20Government%20Pension%20Fund%20 Norway%202011.pdf, dostęp 20.10.2012
 http://www.ftf.no/en/c‑305‑The‑Government‑Pension‑Fund‑Norway.aspx
 Sovereign Wealth Funds. Generally Accepted Principles and Practices „Santiago Principles”, op.cit., s. 41–42
The Management of the Government Pension Fund in 2011, Norwegian Ministry of Finance, Oslo 2012, s. 9
 http://www.regjeringen.no/en/dep/fin/Selected‑topics/the‑government‑pension‑fund/government‑ pension‑fund‑global‑gpfg.html?id=697027, dostęp 20.10.2012
 The Government Pension Fund Global (GPFG), Norwegian Ministry of Finance, Oslo 2012, s. 1
 New decisions about the Government Pension Fund Global, http://www.regjeringen.no/en/dep/fin/news/news/2014/new‑decisions‑about‑the‑ government‑pensi.html?id=750091, dostęp 10.02.2014
 R. Fixsen, Norwegian oil fund reports second highest return in 15‑ year history, „Investment and Pen‑ sions Europe” March 8, 2013, www.ipe.com 
 The Management of the Government Pension Fund in 2012, Meld. St. 27 (2012–2013) Report to the Storting (White paper), Norwegian Ministry of Finance, Oslo, June 2013, s. 47
 J. Rutecka, Fundusz Rezerwy Demograficznej – analiza działalności oraz konsekwen‑ cje przedterminowego wykorzystania aktywów, „Kwartalnik Kolegium Ekonomiczno ‑Społecznego Studia i Prace” 2013, nr 3 (15)
 J. Williams, Norwegian oil fund: unification or division, „Investment and Pensions Europe” October 2013.