02122cam a22003497a 4500001001800000005001700018006001900035007001400054008004100068010001700109020000500126020001800131040002500149035002400174035002100198042001400219043001200233050002300245245008700268260004400355300003200399440005300431504005200484520095500536533010301491650002401594650003001618700002201648710001601670830002601686856006001712wbnk978082137117620260707173119.0m        d        cr mn|       070816s2007    dcua    sb   i000 0 eng d  a  2007298430  a  a9780821371176  aDJBcDJBdBAKERdDLC  a(OCoLC)ocn156853511  a(OCoLC)156853511  alccopycat  as-ck---00aHD7157b.F563 200700aFinancial Sector Dimensions of the Colombian Pension Systemh[electronic resource]  aWashington, D.C. :bWorld Bank,cc2007.  aix, 76 p. :bill. ;c26 cm. 0aWorld Bank working paper ;x1726-5878 ;vno. 106  aIncludes bibliographical references (p. 75-76).3 aThis paper provides an assessment of the funded pension system and the quality of the regulatory framework for both accumulation and payout phase.  It suggests that the lack of portfolio diversification may contribute in the future to low returns and poor pensions and provides a number of recommendation to expand the opportunities of investments to pension funds.  The paper also finds that pension fund administrators are not exploiting the scale economies in certain areas of the business such as collection of revenues and account management, and propose mechanisms to reduce costs and increase efficiency through greater competition.  The paper examines the products and options offered at the retirement age and finds a bias toward the payment of pensions in the form of lump sums and suggests alternatives for improving the availability of other instruments.  Enhancements in the regulatory framework of insurance companies are also proposed.  aElectronic reproduction.b[Washington, D.C.] :cWorld Bank Group,d[2007].f(World Bank e-Library) 0aPensionszColombia. 0aPension trustszColombia.1 aRudolph, Heinz P.2 aWorld Bank. 0aWorld Bank e-Library.40uhttp://www.worldbank.icebox.ingenta.com/content/wb/2423