Global (excluding US) pension fund performance

 describes the performance of pension fund managers, sampled worldwide. Pension funds are the funding mechanism for defined benefit plans, and in some countries are used as funding mechanisms for contributory retirement savings programs.

Global ex-US pensions
In 1994, the World Bank issued an influential study, "Averting the old age crisis: policies to protect the old and promote growth". Citing rising demographic pressures, the report recommended that nations consider structuring a "three-pillar" approach in addressing the support of aging populations:

"The study concludes that financial security for the old would be better served if governments developed three systems, or 'pillars' of old age security:''
 * 1) A publicly managed system with mandatory participation and the limited goal of reducing poverty among the old;
 * 2) A privately managed, mandatory savings system;
 * 3) Voluntary savings."

As a result, many of the nations discussed below have added "second pillar" programs to there retirement systems.

Australiaflag.gif Australia

 * Available at SSRN.
 * Available at SSRN.

Canada flag.png Canada

 * Available at SSRN.
 * Available at SSRN.

Finlandflag.jpg Finland

 * Available at CEM Benchmarking.

Greeceflag.jpg Greece

 * Available at SSRN.

HongKongflag.jpg Hong Kong

 * Available at SSRN.
 * Available at SSRN.

Netherlandsflag.jpg Netherlands

 * Available at SSRN.

Norwayflag.png Norway

 * Available at Google Scholar.
 * Available at SSRN.

Spainflag.jpg Spain

 * Available at SSRN.
 * Available at SSRN.

Swissflag.jpg Switzerland

 * Available at SSRN.

Turkeyflag.jpg Turkey

 * Available at SSRN.

UK flag.png United Kingdom

 * Available at SSRN.
 * Cass Business School Research Paper. Available at SSRN.
 * Cass Business School Research Paper. Available at SSRN.