{"title":"养老金计划受托人的积极作用","authors":"R. Lawrey","doi":"10.1017/S0020269X00009324","DOIUrl":null,"url":null,"abstract":"MOST pension schemes, today, provide benefits linked to a member's final pay, partly as a result of the recognition of the effects of growing inflation in the 1960's and early 1970's on career average and grade table schemes. Since 1970, earnings inflation has averaged around 14% per annum, and at this rate earnings double every five years. Over the same period the overall return on U.K. ordinary shares has been of the order of 15% per annum. The growth of pension funds, partly from the effects of earnings inflation on contributions and partly from the effects of higher investment returns, has been phenomenal; to such an extent that the assets of the larger pension funds are now often comparable with the total stock market capitalisation of their sponsors.","PeriodicalId":419781,"journal":{"name":"Journal of the Staple Inn Actuarial Society","volume":"32 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"1982-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"THE ACTIVE ROLE OF THE PENSION SCHEME TRUSTEE\",\"authors\":\"R. Lawrey\",\"doi\":\"10.1017/S0020269X00009324\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"MOST pension schemes, today, provide benefits linked to a member's final pay, partly as a result of the recognition of the effects of growing inflation in the 1960's and early 1970's on career average and grade table schemes. Since 1970, earnings inflation has averaged around 14% per annum, and at this rate earnings double every five years. Over the same period the overall return on U.K. ordinary shares has been of the order of 15% per annum. The growth of pension funds, partly from the effects of earnings inflation on contributions and partly from the effects of higher investment returns, has been phenomenal; to such an extent that the assets of the larger pension funds are now often comparable with the total stock market capitalisation of their sponsors.\",\"PeriodicalId\":419781,\"journal\":{\"name\":\"Journal of the Staple Inn Actuarial Society\",\"volume\":\"32 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"1982-06-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of the Staple Inn Actuarial Society\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1017/S0020269X00009324\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of the Staple Inn Actuarial Society","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1017/S0020269X00009324","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
MOST pension schemes, today, provide benefits linked to a member's final pay, partly as a result of the recognition of the effects of growing inflation in the 1960's and early 1970's on career average and grade table schemes. Since 1970, earnings inflation has averaged around 14% per annum, and at this rate earnings double every five years. Over the same period the overall return on U.K. ordinary shares has been of the order of 15% per annum. The growth of pension funds, partly from the effects of earnings inflation on contributions and partly from the effects of higher investment returns, has been phenomenal; to such an extent that the assets of the larger pension funds are now often comparable with the total stock market capitalisation of their sponsors.
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