出版社：Asociatia Generala a Economistilor din Romania - AGER
摘要：Adequate and complete reporting of the return rates for pension funds is of utmost importance for the success of the second pension pillar. This paper points to the limitations of the current way of reporting the returns by the Romanian pension funds administrators, given by the exclusive use of the time weighted rate of return and argues for the merits of jointly using an alternative indicator, namely the money weighted rate of return. Both return indicators are calculated in nominal and real terms over the 2008-2018 periods and also for various sub-samples, the results pointing to relevant differences.
