Delivering relevant and valuable pension research is central to ICPM’s mandate


ICPM funds pension and investment-related research that supports effective management in pension and investment organizations. It identifies relevant research topics, interacts with researchers and collaborates with top international pension research institutes, think tanks and like-minded organizations on applicable pension and investment research opportunities.

Published research is listed below as a resource for Research Partners.

For a PDF of the full list of the ICPM Research Portfolio click here.

Call for Research


ICPM funds pension and investment-related research that supports effective management in pension and investment organizations.

Learn more and contact us with inquiries.

Published Research: Pension Design and Implementation


A value-based Approach to the Redesign of US State Pension Plans

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Principles, Principals and Agents

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How Accurately does 70% Final Earnings Replacement Measure Retirement Income (In)Adequacy?

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An Internal Swap Market between Equity Returns and Wage Growth: Can it Enhance the Welfare of Defined Contribution Plan Participants?

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The Freezing of Corporate Pension Plans

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Fee Disclosure to Pension Participants: Establishing Minimum Requirements

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The Canada Supplementary Pension Plan (CSPP): Towards an Adequate, Affordable Pension for All Canadians

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Does Corporate Social Responsibility Create Shareholder Value? The Importance of Long-Term Investors

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A Protocol for Factor Identification

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Asset Allocation and Bad Habits

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Pension Fund Asset Allocation And Liability Discount Rates

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When Do Derivatives Add Value in Asset Allocation Problems for Pension Funds?

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Pension Plan Solvency and Extreme Market Movements: A Regime Switching Approach

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Investment Beliefs that Matter: New Insights into the Value Drivers of Pension Funds

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International diversification and labor income risk

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Connections and Conflicts of Interest: Investment Consultants Recommendations

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Can Institutional Investors Improve Corporate Governance Through Collective Action?

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Attitudes Towards An Extended Fiduciary Duty

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Institutional Investor Collaboration: Enhancing Effectiveness

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Partisan Politics and Bureaucratic Encroachment: The Principles and Policies of Pension Reserve Fund Design and Governance

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Pension Fund Performance and Risk-Taking Under Decentalized Investment Management

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Optimal decentralized ALM

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Board of trustee composition and investment performance of US public pension plans

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Pension reform, ownership structure and corporate governance: evidence from Sweden

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Identifying and mobilizing win-win opportunities for collaboration among pension fund Institutions and their agents

{%Published Research: Prepared by%}

The Pension Governance Deficit: Still With Us

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The performance of US pension funds: new insights into the agency costs debate

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Institutional Investor Collaboration: Enhancing Effectiveness

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Why Do Investors Favor Active Management … To the Extent They Do?

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Is Bigger Better? Size and Performance in Pension Plan Management

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Ten Strategies for Pension Funds to Better Serve Their Beneficiaries

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Pension Fund Performance and Costs: Small is Beautiful

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Published Research: Investing


A value-based Approach to the Redesign of US State Pension Plans

{%Published Research: Prepared by%}

Principles, Principals and Agents

{%Published Research: Prepared by%}

How Accurately does 70% Final Earnings Replacement Measure Retirement Income (In)Adequacy?

{%Published Research: Prepared by%}

An Internal Swap Market between Equity Returns and Wage Growth: Can it Enhance the Welfare of Defined Contribution Plan Participants?

{%Published Research: Prepared by%}

The Freezing of Corporate Pension Plans

{%Published Research: Prepared by%}

Fee Disclosure to Pension Participants: Establishing Minimum Requirements

{%Published Research: Prepared by%}

The Canada Supplementary Pension Plan (CSPP): Towards an Adequate, Affordable Pension for All Canadians

{%Published Research: Prepared by%}

Does Corporate Social Responsibility Create Shareholder Value? The Importance of Long-Term Investors

{%Published Research: Prepared by%}

A Protocol for Factor Identification

{%Published Research: Prepared by%}

Asset Allocation and Bad Habits

{%Published Research: Prepared by%}

Pension Fund Asset Allocation And Liability Discount Rates

{%Published Research: Prepared by%}

When Do Derivatives Add Value in Asset Allocation Problems for Pension Funds?

{%Published Research: Prepared by%}

Pension Plan Solvency and Extreme Market Movements: A Regime Switching Approach

{%Published Research: Prepared by%}

Investment Beliefs that Matter: New Insights into the Value Drivers of Pension Funds

{%Published Research: Prepared by%}

International diversification and labor income risk

{%Published Research: Prepared by%}

Connections and Conflicts of Interest: Investment Consultants Recommendations

{%Published Research: Prepared by%}

Can Institutional Investors Improve Corporate Governance Through Collective Action?

{%Published Research: Prepared by%}

Attitudes Towards An Extended Fiduciary Duty

{%Published Research: Prepared by%}

Institutional Investor Collaboration: Enhancing Effectiveness

{%Published Research: Prepared by%}

Partisan Politics and Bureaucratic Encroachment: The Principles and Policies of Pension Reserve Fund Design and Governance

{%Published Research: Prepared by%}

Pension Fund Performance and Risk-Taking Under Decentalized Investment Management

{%Published Research: Prepared by%}

Optimal decentralized ALM

{%Published Research: Prepared by%}

Board of trustee composition and investment performance of US public pension plans

{%Published Research: Prepared by%}

Pension reform, ownership structure and corporate governance: evidence from Sweden

{%Published Research: Prepared by%}

Identifying and mobilizing win-win opportunities for collaboration among pension fund Institutions and their agents

{%Published Research: Prepared by%}

The Pension Governance Deficit: Still With Us

{%Published Research: Prepared by%}

The performance of US pension funds: new insights into the agency costs debate

{%Published Research: Prepared by%}

Institutional Investor Collaboration: Enhancing Effectiveness

{%Published Research: Prepared by%}

Why Do Investors Favor Active Management … To the Extent They Do?

{%Published Research: Prepared by%}

Is Bigger Better? Size and Performance in Pension Plan Management

{%Published Research: Prepared by%}

Ten Strategies for Pension Funds to Better Serve Their Beneficiaries

{%Published Research: Prepared by%}

Pension Fund Performance and Costs: Small is Beautiful

{%Published Research: Prepared by%}

Published Research: Organizational Governance/Management


A value-based Approach to the Redesign of US State Pension Plans

{%Published Research: Prepared by%}

Principles, Principals and Agents

{%Published Research: Prepared by%}

How Accurately does 70% Final Earnings Replacement Measure Retirement Income (In)Adequacy?

{%Published Research: Prepared by%}

An Internal Swap Market between Equity Returns and Wage Growth: Can it Enhance the Welfare of Defined Contribution Plan Participants?

{%Published Research: Prepared by%}

The Freezing of Corporate Pension Plans

{%Published Research: Prepared by%}

Fee Disclosure to Pension Participants: Establishing Minimum Requirements

{%Published Research: Prepared by%}

The Canada Supplementary Pension Plan (CSPP): Towards an Adequate, Affordable Pension for All Canadians

{%Published Research: Prepared by%}

Does Corporate Social Responsibility Create Shareholder Value? The Importance of Long-Term Investors

{%Published Research: Prepared by%}

A Protocol for Factor Identification

{%Published Research: Prepared by%}

Asset Allocation and Bad Habits

{%Published Research: Prepared by%}

Pension Fund Asset Allocation And Liability Discount Rates

{%Published Research: Prepared by%}

When Do Derivatives Add Value in Asset Allocation Problems for Pension Funds?

{%Published Research: Prepared by%}

Pension Plan Solvency and Extreme Market Movements: A Regime Switching Approach

{%Published Research: Prepared by%}

Investment Beliefs that Matter: New Insights into the Value Drivers of Pension Funds

{%Published Research: Prepared by%}

International diversification and labor income risk

{%Published Research: Prepared by%}

Connections and Conflicts of Interest: Investment Consultants Recommendations

{%Published Research: Prepared by%}

Can Institutional Investors Improve Corporate Governance Through Collective Action?

{%Published Research: Prepared by%}

Attitudes Towards An Extended Fiduciary Duty

{%Published Research: Prepared by%}

Institutional Investor Collaboration: Enhancing Effectiveness

{%Published Research: Prepared by%}

Partisan Politics and Bureaucratic Encroachment: The Principles and Policies of Pension Reserve Fund Design and Governance

{%Published Research: Prepared by%}

Pension Fund Performance and Risk-Taking Under Decentalized Investment Management

{%Published Research: Prepared by%}

Optimal decentralized ALM

{%Published Research: Prepared by%}

Board of trustee composition and investment performance of US public pension plans

{%Published Research: Prepared by%}

Pension reform, ownership structure and corporate governance: evidence from Sweden

{%Published Research: Prepared by%}

Identifying and mobilizing win-win opportunities for collaboration among pension fund Institutions and their agents

{%Published Research: Prepared by%}

The Pension Governance Deficit: Still With Us

{%Published Research: Prepared by%}

The performance of US pension funds: new insights into the agency costs debate

{%Published Research: Prepared by%}

Institutional Investor Collaboration: Enhancing Effectiveness

{%Published Research: Prepared by%}

Why Do Investors Favor Active Management … To the Extent They Do?

{%Published Research: Prepared by%}

Is Bigger Better? Size and Performance in Pension Plan Management

{%Published Research: Prepared by%}

Ten Strategies for Pension Funds to Better Serve Their Beneficiaries

{%Published Research: Prepared by%}

Pension Fund Performance and Costs: Small is Beautiful

{%Published Research: Prepared by%}