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Robert Gal (TARKI Social Research Center)
In the paper entitled, "Pension fund Governance in Hungary in an International Context" Mr. Robert Gal (TARKI Social Research Center) compare Hungarian pension funds with two prototypes, namely Anglo-American trust funds and the Chilean type pension system privatization. The author posits that the Hungarian pension fund market became highly concentrated mainly as a result of regulation. Employees were given the right to choose a pension fund, and the mandatory private pension funds were required to subscribe at least 2,000 members in 180 days. He also argues that the property rights in the funds are blurred. These and other issues impact private pension fund supervision.
This paper was co-financed with a grant from the PFS Program.
To read the paper, please click here:
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