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Ştefania Ciocîrlan
• Experts are against enacting regulations requiring private pensions funds to ensure inflation-beating returns
A study by experts of the Organization For Economic Co-Operation And Development (OECD) shows that, over a 45-year period, bonds yielded on average 5.5% annually, whereas shares returned on average 9%. The data was collected from the financial markets of the G7, (Canada, France, Germany, Italy, Japan, Great Britain, United States) and Sweden.
The quoted sources mentioned that over the period reviewed, the average annual inflation fluctuated between 2% and 3%, meaning that funds which held balanced portfolios, had returns that exceeded the rate of inflation in the medium and long run, without having governments expressly regulate these issues.
"Which is why countries must avoid inserting ad-hoc mandatory required returns, for the returns of the pension funds or compensating for eventual losses on assets losses must be avoided", says the mentioned report.
The recommendations of the experts of the OECD come in the context of an increasing number of initiatives to require private pension funds to guarantee inflation-beating returns.
Thus, the experts of the OECD emphasize that the performance of private pension funds should not be judged based on cyclical factors, especially given the fact that periods of crisis occur periodically and are known to be short-lived compared to the decade-long investment outlook for private pensions.
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