The welfare function of pension funds in the light of the theory of intergenerational justice (with emphasis on the third paragraph of general social security policies)

Nemati Habil, Hadi; Abbasi, Bizhan

doi:10.22034/mral.2023.563495.1389

The welfare function of pension funds in the light of the theory of intergenerational justice (with emphasis on the third paragraph of general social security policies)

Document Type : Original Article

Authors

hadi nemati habil ¹

Bizhan Abbasi ²

¹ Ph.D. Student in Public Law . Department of Public Law, Faculty of Law and Political Science. Tehran university.

² Associate Prof

10.22034/mral.2023.563495.1389

Abstract

The third paragraph of the general social security policies is dedicated to the rule of intergenerational justice theory on pension funds. The mentioned theory refers to respecting the rights of future generations in exploiting any resources, whether natural, such as the environment, or unnatural, such as the resources of pension funds. Basically, the aforementioned funds pay pensions by collecting pension deductions and investing them in profitable affairs. Two points emerge from the last article, the first is that; The nature of pension funds, regardless of the titles chosen by the legislator, is a company, and the fundamental principle of any company is to respect the interests of all investors. Second, that; these funds are committed to two categories of people, one is the pensioners and the other is the Retirement deductions, which we interpret as the future generation of the fund. Now, the question that comes to mind is that, considering the theory of intergenerational justice and the purpose and nature of pension funds, do they basically have an obligation to pay an amount beyond the pension that we interpret as a welfare function or not. If we consider the welfare function as one of the tasks of the fund, what are the limitations of the fund managers in making welfare approvals. In this article, using library sources and analytical-descriptive method, we have sought answers to the mentioned questions, and the result is that; Basically, the fund does not have an obligation to pay an amount beyond the pension, but

Keywords

inter-generational justice

pension

Subjects