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Characteristics of pension fund financial quality: the role of uncommitted funds

Michael Huynh et al.

Financial Markets and Portfolio Management2025https://doi.org/10.1007/s11408-025-00477-6article
AJG 2ABDC B
Weight
0.50

What the paper says

We find empirical support that the availability of uncommitted funds (UCF), conditioned on the benefits to the insured, is a promising new measure of the financial quality of pension funds. Unlike funding ratios, UCF represent the surplus after fluctuation reserves for absorbing capital market risks are fully accumulated. Fund level data from Switzerland reveal that funds seem to be reluctant to build up UCF arbitrarily, but pass on part of it to the beneficiaries. This suggests that quality indicators such as UCF should not only be based on funding ratios, but incorporate the funds’ reserve and payout policy.

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https://doi.org/https://doi.org/10.1007/s11408-025-00477-6

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@article{michael2025,
  title        = {{Characteristics of pension fund financial quality: the role of uncommitted funds}},
  author       = {Michael Huynh et al.},
  journal      = {Financial Markets and Portfolio Management},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1007/s11408-025-00477-6},
}

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Characteristics of pension fund financial quality: the role of uncommitted funds

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Evidence weight

0.50

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.50 × 0.4 = 0.20
M · momentum0.50 × 0.15 = 0.07
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.