Pension fund

Open pension funds support at least one pension plan with no restriction on membership while closed pension funds support only pension plans that are limited to certain employees.[3]

Closed pension funds are further subclassified into:

• Single employer pension funds
• Multi-employer pension funds
• Related member pension funds
• Individual pension funds

A public pension fund is one that is regulated under public sector law while a private pension fund is regulated under private sector law.

In certain countries, the distinction between public or government pension funds and private pension funds may be difficult to assess. In others, the distinction is made sharply in law, with very specific requirements for administration and investment. For example, local governmental bodies in the United States are subject to laws passed by the states in which those localities exist, and these laws include provisions such as defining classes of permitted investments and a minimum municipal obligation.[4][5]

• Commonwealth Superannuation Scheme (old scheme for federal civil servants)
• Military Superannuation and Benefits Scheme (current scheme for Australian Defence Force personnel)
• Public Sector Superannuation accumulation plan (current scheme for federal civil servants)
• Public Sector Superannuation Scheme (old scheme for federal civil servants)
• State Super (for New South Wales state civil servants)

• AustralianSuper
• AustSafe Super
• CareSuper
• Cbus
• Energy Super
• FIRSTSUPER
• HESTA
• Hostplus
• legalsuper
• LUCRF Super
• Media Super
• MTAA Super
• NGS Super
• REI Super
• TWUSUPER
• UniSuper
• Retail Employees Superannuation Trust

[28]

• ANZ Australian Staff Superannuation Scheme (for employees of ANZ Bank)

• Aceprev
• Baneses
• Banesprev
• Centrus
• FAPES
• Forluz
• Funcef
• Fundação Banrisul
• Fundação CESP
• Fundação Itaubanco
• Petros
• PREVI - Caixa de Previdência dos Funcionários do Banco do Brasil[29] (the closed private pension fund for employees of the Brazilian federal government-owned bank)
• Sistel
• Valia

• Alberta Investment Management Corporation
• Alberta Pensions Services Corporation
• British Columbia Investment Management Corporation (BCIMC)
• Caisse de dépôt et placement du Québec
• Canada Pension Plan (investments directed by the Canada Pension Plan Investment Board)
• Healthcare of Ontario Pension Plan (HOOPP)
• Ontario Teachers Pension Plan
• Ontario Municipal Employees Retirement System
• PSP investments
• Public Sector Pension Investment Board
• OPSEU Pension Trust (OPTrust)
• Ontario Pension Board (OPB)
• University Pension Plan (UPP)

• Colleges of Applied Arts and Technology Pension Plan (CAAT)
• Boilermakers Pension Fund Trust
• Labourers' Pension Fund of Central and Eastern Canada (LIUNA)
• Teamsters Canadian Pension Plan
• Telecommunication Workers Pension Plan
• UFCW Canadian Pension Plan

• AFP Modelo
• Chile pension system

• Social Security Fund (China) - managed by National Council for Social Security Fund

• Public Employees Pension Fund[30]

• TAPILTAT, the Fund for Mutual Assistance of the Employees of Ioniki Bank and Other Banks, the multi-employer auxiliary pension fund

• Mandatory Provident Fund

• Employees' Provident Fund Organisation – a statutory body of the Government of India that administers a compulsory Provident Fund Scheme, Pension Scheme and an Insurance Scheme. Provident Fund is applicable for employees across establishments (private as well as government, subject to criteria). EPFO is the largest social security organisation in India with assets well over ₹ 5 lakh crore (US$104 billion) as of 2014.[31]
• National Pension Scheme – a defined-contribution–based pension scheme launched by the Government of India open to all citizens of India on a voluntary basis and mandatory for the employees of central government (except Indian Armed Forces) who are appointed on or after 1 January 2004. Indian citizens between the age of 18 and 65 are eligible to join.[32]

• See Japan Pension Service
• Government Pension Investment Fund, Japan (GPIF, 年金積立金管理運用独立行政法人)

• Employees Provident Fund (Malaysia's largest, total assets of around RM407 billion in diversified portfolio)[33]

• Caisse de dépôt et de gestion
• CMR (in French)

• Employees Provident Fund Nepal

• Stichting Pensioenfonds ABP (ABP)
• Stichting Pensioenfonds Zorg en Welzijn (PFZW, formerly PGGM)

• The Government Pension Fund - Global (Statens pensjonsfond - Utland)
• The Government Pension Fund - Norway (Statens pensjonsfond - Norge)

The pension system in Romania is made of three pillars. One is the state pension (Pillar I – Mandatory), the second is a private mandatory pension where the state transfers a percentage of the contribution it collects for the public pension, and the third is an optional private pension (Pillar III – Voluntary).

The Financial Supervisory Authority – Private Pension is responsible for the supervision and regulation of the private pension system.[34]

• Public Pension Agency (PPA)
• General Organization for Social Insurance

• The pension system in Serbia is made of three pillars. One is the state pension (Pillar I – Mandatory), where every insured person is obliged to pay contributions from their paycheck, the second is a voluntary state pension, where an uninsured person is voluntarily included in state pension system, and the third is an optional private pension (Pillar III – Voluntary).[35]
• Pension and disability insurance fund

• Central Provident Fund

• Pension system in Switzerland

• Sosyal Güvenlik Kurumu (Social Security Institution, SGK)

Social Security Institution was established by the Social Security Institution Law No:5502 which was published in the Official Gazette No: 26173 dated 20.06.2006 and brings the Social Insurance Institution, General Directorate of Bağ-kur and General Directorate of Emekli Sandığı whose historical development are summarized above under a single roof in order to transfer five different retirement regimes which are civil servants, contractual paid workers, agricultural paid workers, self-employers and agricultural self-employers into a single retirement regime that will offer equal actuarial rights and obligations.

• Armed Forces Pension Fund[36]

OYAK (Ordu Yardımlaşma Kurumu/Armed Forces Pension Fund) provides its members with "supplementary retirement benefits" apart from the official retirement fund, T.C.Emekli Sandığı/SSK, to which they are primarily affiliated.

In addition to the retirement benefit, OYAK pays "disability benefits" to the members on duty when they become partially or fully disabled as well as "death benefits" to the heirs of the deceased member if the death occurs during the member's subscription to the foundation.

OYAK is incorporated as a private entity under its own law subject to Turkish civic and commercial codes. OYAK, while fulfilling its legal duties, as set in the law, also provides its members with social services such as loans, home loans and retirement income systems.

The initial source of OYAK's funds is a compulsory 10 percent levy on the base salary of Turkey's 200,000 serving officers who, together with 25,000 current pensioners, make up OYAK's members.

Some other Turkish private pension funds:

• YAPI ve KREDİ BANKASI A.Ş. Mensupları Yardım ve Emekli Sandığı Vakfı
• AKBANK T.A.Ş. Mensupları Tekaüt Sandığı Vakfı
• TÜRKİYE GARANTİ BANKASI A.Ş. Memur ve Müstahdemleri Emekli ve Yardım Sandığı Vakfı
• TÜRKİYE ODALAR BORSALAR VE BİRLİK PERSONELİ SİGORTA VE EMEKLİ SANDIĞI VAKFI
• TÜRKİYE İŞ BANKASI A.Ş. Mensupları Emekli Sandığı Vakfı

In the United States, pension funds include schemes which result in a deferral of income by employees, even if retirement income provision isn't the intent.[37] The United States has $19.1 trillion in retirement and pension assets ($9.1 trillion in private funds, $10 trillion in public funds) as of December 31, 2016.[38] The largest 200 pension funds accounted for $4.540 trillion as of September 30, 2009.[39]