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AUTONOMOUS PENSION FUNDS

Statistics Directorate    
French Equivalent: Fonds de pension autonomes

Definition:
Autonomous pension funds are separate funds (i.e., separate institutional units) established for purposes of providing incomes on retirement for specific groups of employees which are organised, and directed, by private or public employers or jointly by the employers and their employees. These funds engage in financial transactions on their own account on financial markets and make investments by acquiring financial and non- financial assets. They do not include social security schemes organised for large sections of the community which are imposed, controlled or financed by general government.

Context:
In occupational plans, a pension fund that is legally separated from the plan sponsor taking the form of either a special purpose legal entity or a separate account managed by financial institutions on behalf of the plan/fund members. Plan/fund members have a legal or beneficial right or some other contractual claim against the assets held in the fund. (OECD Working Party on Private Pensions, Pensions Glossary, December 2002).

Source Publication:
SNA 6.141.

Cross References:
Non-autonomous pension funds - SNA

Hyperlink:
http://esa.un.org/unsd/sna1993/introduction.asp

Statistical Theme: National accounts

Created on Tuesday, September 25, 2001

Last updated on Friday, February 28, 2003