Making Private Pensions Work Better
The main focus of the 2016 Global Forum on Private Pensions was consumer protection in the pensions area, in particular, the need for consumers to better understand and control fees and costs and to be better protected against potential conflicts of interest in retirement advice. Participants considered the interactions between private and public pension systems, and the linking of accumulation and pay-out phases.
These developments have a wide-ranging impact on pension funds and, consequently, may change the landscape in which pension regulatory and supervisory authorities operate. Governments, regulatory and supervisory authorities, and industry associations are becoming increasingly aware of the critical importance of ex-ante analysis and considerations of emerging issues in order to effectively achieve established mandates. This means that it is prudent for all stakeholders to periodically examine current trends and have the foresight to create policies that will mitigate potential adverse impacts to the supervised and regulated system. It also means that now is a good time for regulators and supervisors around the world to engage in this discussion and share their experiences and good practices.
This annual global forum explores current trends in global private pension systems and the ways in which pension regulatory and supervisory authorities are managing and reacting to those trends. It brings together high-level officials from regulatory and supervisory authorities, and leading experts from the pension fund industry and research institutes from both OECD and IOPS Member countries. Representatives from European and international organisations also participate in this event.
Honourable Mrs Carrie Lam Cheng Yuet-ngor, GBM, GBS, JP, Chief Secretary for Administration (CS), HKSAR Government, China
Honourable Matthew Cheung Kin-chung, GBS, JP, Secretary for Labour and Welfare (SLW), HKSAR Government, China
Summary of Proceedings
OECD Core Principles of Private Pension Regulation
The 2016 Core Principles pf Private Pension Regulation were released at the Global Forum