Treatment of Pension Schemes in  | View Thread
Pension Terms
John Pitzer on 7/2/2003 3:37:47 PM
This note deals with several terms that are used in the description of social insurance schemes and pension schemes but that are not defined sufficiently precisely or that are used with more than one meaning. Those encompass: fund, funded, unfunded, reserves, provisions, sponsor, plan members etc. In the interview conducted by the moderator and posted on the EDG (April 3, 2003), Anne Harrison discusses the System of National Accounts 1993 (1993 SNA) terminology. Also, OECD recently compiled a Pensions Glossary and distributed a paper, ?Revised Taxonomy for Pension Plans, Pension Fund and Pension Entities,? that develops a set of definitions and classifications for pensions (see EDG: postings on February 20, 2003). It is desirable, to the extent possible, to coordinate that effort with the terms used in 1993 SNA, and other macroeconomic statistical manuals.

John Pitzer worked with the IMF and is now a consultant. He was the primary author of the GFSM 2001.

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