| Abstract [eng] |
This Master's degree paperwork is presenting the economic analysis and integrated performance evaluation of the Lithuanian second pillar pension funds. The theoretical part is about the occurrence values of second pillar pension funds and their operating characteristics. In addition to this the trends of pension system reform were extensively analised in Eastern European countries, determination of the second pillar pension fund organization and characteristics of the pension accumulation. Also the foundation's investment activities regulatory analysis and the establishment of the second pillar pension funds performance evaluation methodology is presented. The analytical part of the work is about the second pillar pension funds economic analysis for the year period of 2004-2012 in accordance with pension fund market data, investment performance indicators and investment strategies characteristics. Constructive part of the work is presenting the assessment of the second pillar pension funds with the indicators of the usefulness through a participatory. As well the method of the multicriterial evaluation pension funds performance is presented. In addition to this, evaluation of investment alternative to the second-pillar pension funds has been made. The results showed that the application of different pension funds performance evaluation methods is resulting different outcomes. The multicriterial evaluation of pension funds performance showed that in the period of the year 2004-2012 the most effective activities were performed by funds MP Stabilo II, Finasta Conservative investment and Finasta Reasonable. In view with the new pension system evaluation results showed that the use of „Sodra“ contributions, personal funds and accessories provided by state can ensure a much higher pension than a collection of old pension scheme. However, the different sources to second pillar pension funds contributions and overlap with the existing system displays the new pension system complexity. |
