A pension is a fund into which a sum of money is added during an employee's employment years and from which payments are drawn to support the person's retirement from work in the form of periodic payments. A pension may be a "defined benefit plan", where a fixed sum is paid regularly to a person, or a "defined contribution plan", under which a fixed sum is invested that then becomes available at retirement age. Pensions should not be confused with severance pay; the former is usually paid in regular amounts for life after retirement, while the latter is typically paid as a fixed amount after involuntary termination of employment before retirement.
A pension fund, also known as a superannuation fund in some countries, is any plan, fund, or scheme which provides retirement income.
Welfare, or commonly social welfare, is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed, as opposed to social assistance programs which provide support on the basis of need alone. The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury.
The Government Pension Fund of Norway comprises three entirely separate sovereign wealth funds owned by the government of Norway.
The Employee Retirement Income Security Act of 1974 (ERISA) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal income tax effects of transactions associated with employee benefit plans. ERISA was enacted to protect the interests of employee benefit plan participants and their beneficiaries by:
The Transamerica Corporation is an American holding company for various life insurance companies and investment firms operating primarily in the United States, offering life and supplemental health insurance, investments, and retirement services. The company has major offices located in Baltimore, Maryland; Cedar Rapids, Iowa; Denver, Colorado; Norwood, Massachusetts; Exton, Pennsylvania; Harrison, New York; Johns Creek, Georgia; Plano, Texas; and St. Petersburg, Florida. Additional affiliated offices are located throughout the United States. In 1999, it became an independent subsidiary of multinational company Aegon.
The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families". In fiscal year 2020–21, CalPERS paid over $27.4 billion in retirement benefits, and over $9.74 billion in health benefits.
Sir Ronald Mourad Cohen is an Egyptian-born British businessman and political figure. He is the chairman of The Portland Trust and Bridges Ventures. He has been described as "the father of British venture capital" and "the father of social investment".
Leon Howard Sullivan was a Baptist minister, a civil rights leader and social activist focusing on the creation of job training opportunities for African Americans, a longtime General Motors Board Member, and an anti-Apartheid activist. Sullivan died of leukemia in a Scottsdale, Arizona hospital at the age of 78.
Socially responsible investing (SRI), social investment, sustainable socially conscious, "green" or ethical investing, is any investment strategy which seeks to consider both financial return and social/environmental good to bring about social change regarded as positive by proponents. Socially responsible investments often constitute a small percentage of total funds invested by corporations and are riddled with obstacles.
A sovereign wealth fund (SWF), sovereign investment fund, or social wealth fund is a state-owned investment fund that invests in real and financial assets such as stocks, bonds, real estate, precious metals, or in alternative investments such as private equity fund or hedge funds. Sovereign wealth funds invest globally. Most SWFs are funded by revenues from commodity exports or from foreign-exchange reserves held by the central bank.
Kommunal Landspensjonskasse Gjensidig Forsikringsselskap or KLP is an Oslo-based mutual insurance company that manages the pensions of municipal employees in Norway. As of 31 March 2021, the fund had assets of NOK 813.5 billion, with 337 municipal and county authorities, 31 health trusts and 2,300 public sector firms as clients.
Stichting Pensioenfonds ABP, frequently referred to as ABP, is the pension fund for government and education employees in the Netherlands. For the quarter ended 31 December 2014, ABP had 2.8 million participants and assets under management of €344 billion, making it the largest pension fund in the Netherlands and among the five largest pension funds in the world as at September 2016.
Disinvestment from Israel is a campaign conducted by religious and political entities which aims to use disinvestment to pressure the government of Israel to put "an end to the Israeli occupation of Palestinian territories captured during the 1967 military campaign." The disinvestment campaign is related to other economic and political boycotts of Israel.
In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash . The balance sheet of a firm records the monetary value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business.
The statutory and fiduciary mandate of the State Board of Administration of Florida (SBA) is to invest, manage and safeguard assets of the Florida Retirement System (FRS) Trust Fund as well as the assets of a variety of other funds. The SBA manages 25 different investment funds and trust clients.
Environmental, social, and corporate governance (ESG), also known as environmental, social, governance, is a framework designed to be embedded into an organization's strategy that considers the needs and ways in which to generate value for all organizational stakeholders.
HDFC Life Insurance Company Ltd. is a long-term life insurance provider with its headquarters in Mumbai, offering individual and group insurance services and it was incorporated on 14 August 2000.
This article is intended to give an overview of pensions in the Netherlands.
