IDEAS home Printed from https://ideas.repec.org/a/rbs/ijbrss/v11y2022i6p635-641.html
   My bibliography  Save this article

Role of pension management on economic growth: A review of literature

Author

Listed:
  • Ben Kajwang

    (Insurance Company, Kenya)

Abstract

Pension funds enable individuals to save over their working lives to finance their consumption needs in retirement, either through a lump sum or through the provision of an annuity, while also supplying funds to end-users such as corporations, other households (via securitized loans), or governments for investment or consumption. The study's goal is to investigate the impact of pension management on economic growth. A desktop literature review was used for this purpose. Relevant seminal references and journal articles for the study were identified using Google Scholar. The inclusion criteria entailed papers that were not over ten years old. The study concluded that contributory pensions have the potential to increase GDP with competent risk and portfolio management by pension fund administrators and custodians (GDP). The findings indicated a positive relationship between retirement pension assets and economic growth. The study recommends that policymakers and pension fund regulators devise feasible methods for investing pension money to benefit the economy while also maintaining the safety of the invested assets so as not to risk the interests of pension fund owners. To enhance economic growth, the study also suggested eliminating pension fund management delays, administrative bottlenecks, and corruption. Key Words:Pension Management, Economic Growth

Suggested Citation

  • Ben Kajwang, 2022. "Role of pension management on economic growth: A review of literature," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(6), pages 635-641, September.
    • Handle: RePEc:rbs:ijbrss:v:11:y:2022:i:6:p:635-641
    DOI: 10.20525/ijrbs.v11i6.1948
    as

    Download full text from publisher

    File URL: https://www.ssbfnet.com/ojs/index.php/ijrbs/article/view/1948/1446
    Download Restriction: no
    File URL: https://doi.org/10.20525/ijrbs.v11i6.1948
    Download Restriction: no
    File URL: https://libkey.io/10.20525/ijrbs.v11i6.1948?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Andrew Crane & Sarah Glozer, 2016. "Researching Corporate Social Responsibility Communication: Themes, Opportunities and Challenges," Journal of Management Studies, Wiley Blackwell, vol. 53(7), pages 1223-1252, November.
    2. Steven A. Sharpe & Gustavo A. Suarez, 2013. "The insensitivity of investment to interest rates: Evidence from a survey of CFOs," Finance and Economics Discussion Series 2014-2, Board of Governors of the Federal Reserve System (U.S.).
    3. Ashok Thomas & Luca Spataro, 2016. "The Effects Of Pension Funds On Markets Performance: A Review," Journal of Economic Surveys, Wiley Blackwell, vol. 30(1), pages 1-33, February.
    4. Howard Stein & Steven Rosefielde, 2005. "Introduction to Issues in Finance, Corporate Control, and Growth: Lessons from Developing and Transitional Economies," Eastern Economic Journal, Eastern Economic Association, vol. 31(2), pages 210-217, Spring.
    5. Impavido, Gregorio, 2007. "The Mexican pension annuity market," Policy Research Working Paper Series 4236, The World Bank.
    6. Michiel Bijlsma & Johannes Bonekamp & Casper Ewijk & Ferry Haaijen, 2018. "Funded Pensions and Economic Growth," De Economist, Springer, vol. 166(3), pages 337-362, September.
    7. Stewart,Fiona Elizabeth & Despalins,Romain & Remizova,Inna & Stewart,Fiona Elizabeth & Despalins,Romain & Remizova,Inna, 2017. "Pension funds, capital markets, and the power of diversification," Policy Research Working Paper Series 8136, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Moses Tunde Oyerinde & Dr. Folake Feyisayo Olowokudejo & Prof Musa Adebayo Obalola, 2024. "Assets Liability Management, Macro-Economic Factors and Performance of Pension Funds Administration in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(6), pages 2429-2440, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mario Holzner & Stefan Jestl & David Pichler, 2022. "Public and private pension systems and macroeconomic volatility in OECD countries," Scottish Journal of Political Economy, Scottish Economic Society, vol. 69(2), pages 131-168, May.
    2. Kim, Yeonshin & Hur, Won-Moo & Lee, Luri, 2023. "Understanding customer participation in CSR activities: The impact of perceptions of CSR, affective commitment, brand equity, and corporate reputation," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    3. Bert Scholtens & Feng‐Ching Kang, 2013. "Corporate Social Responsibility and Earnings Management: Evidence from Asian Economies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 20(2), pages 95-112, March.
    4. Petra Dickel & Monika Sienknecht & Jacob Hörisch, 2021. "The early bird catches the worm: an empirical analysis of imprinting in social entrepreneurship," Journal of Business Economics, Springer, vol. 91(2), pages 127-150, March.
    5. Mohamed Basta & James Lapalme & Marc Paquet, 2021. "A Systems Thinking Analysis of the Supply Chain Social Responsibility Literature," Systems Research and Behavioral Science, Wiley Blackwell, vol. 38(4), pages 537-554, August.
    6. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    7. Jordan Famularo, 2023. "Corporate social responsibility communication in the ICT sector: digital issues, greenwashing, and materiality," International Journal of Corporate Social Responsibility, Springer, vol. 8(1), pages 1-25, December.
    8. Renáta Myšková & Petr Hájek, 2018. "Sustainability and Corporate Social Responsibility in the Text of Annual Reports—The Case of the IT Services Industry," Sustainability, MDPI, vol. 10(11), pages 1-18, November.
    9. Babalos, Vassilios & Stavroyiannis, Stavros, 2020. "Pension funds and stock market development in OECD countries: Novel evidence from a panel VAR," Finance Research Letters, Elsevier, vol. 34(C).
    10. Ashtiani, Amin Zokaei & Rieger, Marc Oliver & Stutz, David, 2021. "Nudging against panic selling: Making use of the IKEA effect," Journal of Behavioral and Experimental Finance, Elsevier, vol. 30(C).
    11. Harrison, Rodrigo & Parada-Contzen, Marcela & Villena, Marcelo, 2023. "Can auctions increase competition in the pension funds market? The Chilean experience," Journal of Policy Modeling, Elsevier, vol. 45(5), pages 975-993.
    12. Nancy E. Landrum & Brian Ohsowski, 2018. "Identifying Worldviews on Corporate Sustainability: A Content Analysis of Corporate Sustainability Reports," Business Strategy and the Environment, Wiley Blackwell, vol. 27(1), pages 128-151, January.
    13. Nöh Lukas & Schaffranka Claudia & Werding Martin, 2024. "Ergänzende Kapitaldeckung der Altersvorsorge: Gründe, Gestaltungsoptionen und Auswirkungen," Perspektiven der Wirtschaftspolitik, De Gruyter, vol. 25(1), pages 28-44, March.
    14. Mukesh Kumar Anand & Rahul Chakraborty, 2019. "Public Expenditure on Old-Age Income Support in India: Largesse for a Few, Illusory for Most," Working Papers id:13035, eSocialSciences.
    15. Tina Bartelmeß & Jasmin Godemann, 2020. "Corporate Perspectives on Responsibility and Sustainability in the Food System: A (Food) Communicative-Constructivist Viewpoint," Sustainability, MDPI, vol. 12(5), pages 1-21, March.
    16. Arelys López‐Concepción & Ana I. Gil‐Lacruz & Isabel Saz‐Gil, 2022. "Stakeholder engagement, Csr development and Sdgs compliance: A systematic review from 2015 to 2021," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(1), pages 19-31, January.
    17. Stephan Blaha & Wim Lambrechts & Jelle Mampaey, 2021. "Twalk Your Talk: On the (Non)-Formative Influence of Corporate Social Responsibility Communication on Supply Chain Sustainability Measures," Sustainability, MDPI, vol. 13(17), pages 1-21, August.
    18. Bańbura, Marta & Albani, Maria & Ambrocio, Gene & Bursian, Dirk & Buss, Ginters & de Winter, Jasper & Gavura, Miroslav & Giordano, Claire & Júlio, Paulo & Le Roux, Julien & Lozej, Matija & Malthe-Thag, 2018. "Business investment in EU countries," Occasional Paper Series 215, European Central Bank.
    19. Christensen, Lars Thøger & Morsing, Mette & Thyssen, Ole, 2020. "Timely hypocrisy? Hypocrisy temporalities in CSR communication," Journal of Business Research, Elsevier, vol. 114(C), pages 327-335.
    20. Paskalis Seran & Usil Sis Sucahyo & Apriani Dorkas Rambu Atahau & Supramono Supramono, 2023. "The Efficiency of Indonesian Pension Funds: A Two-Stage Additive Network DEA Approach," IJFS, MDPI, vol. 11(1), pages 1-19, February.

    More about this item

    Keywords

    pension management; economic growth;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rbs:ijbrss:v:11:y:2022:i:6:p:635-641. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Umit Hacioglu (email available below). General contact details of provider: https://edirc.repec.org/data/ssbffea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.