The OECD/IOPS Global Forum on Private Pensions was held on 14 November (afternoon session) and 15 November 2007. This event was co-organised and co-sponsored by the China Insurance Regulatory Commission (CIRC). The OECD/IOPS Global Forum, being a part of the OECD programme of co-operation with non-member economies, was organised under the aegis of the OECD Working Party on Private Pensions, with sponsorship by the Government of Japan, and under the aegis of the IOPS.
The Forum covered a wide range of topics which are of importance to both the countries that either have mature and developed funded pension systems and those countries that have only recently undertaken pension reforms, therefore seeking to modify their existing un-sustainable retirement security arrangements. The issues were also of relevance for the current developments in the Chinese pension system.
The OECD/IOPS Global Forum was unique on the one hand, in that the co-organisation of the conference between the OECD and the IOPS ensured representation from countries with a broad range of private pension arrangements - but all of which are confronted with similar pressures to provide an adequate and sustainable level of retirement security. On the other hand, the Forum provided a valuable international forum to inform and enlighten the current policy debate on major issues related to private pension reform and will encourage an exchange of experiences derived from innovative policies and programmes across the participating countries. The topics of the conference this year were: (1) Pension Investments and Capital Market Development; (2) The Impact of Incentives on Pensions and Insurance Products; 3) Pensions Supervisory Structures; (4) Annuities – Provisions and Risks. A separate panel will be devoted to the pensions markets in Asia. These topics were discussed in depth at the meeting within the context of the OECD and IOPS Principles and Guidelines which provide a unique framework for countries introducing and consolidating pension reform strategies.
This Forum brought together senior governmental officials, leading pension policy experts and private pension market representatives from OECD and non-member economies.
Please note that participation was by invitation only. Further details are available in the Information Note below.
Session 1: Developments in Asian Pensions and Insurance Markets
Presentation: Indonesia's Pension Funds: Iwayan Wijana.
Presentation: Asia-Pacific Pensions 2007 - Systems and Markets: Brigitte Miksa, Allianz Global Investors.
Presentation: Pensions at a Glance: Asia/Pacific: Edward Whitehouse, OECD.
Session 2: Pension Investmenbts and Capital Market Development
Presentation: Pension Fund Investment and Regulation: Yu-Wei Hu, OECD.
Background Document: Pension Fund Investment - An Internatinal Perspective and implications for China's Pension System: Juan Yermo, Fiona Stewart and Yu-Wei Hu; OECD.
Presentation: For a Good Investment Regulation - The CEE Experience: Mihaly Erdos, Hungarian Financial Supervisory Authority, Hungary.
Presentation: Pension Investment and Capital Market Development: David Tuesta, BBVA.
Session 3: The Impact of Incentives on Pensions and Insurance Products
Background Document: Commercial Pension insurance and Harmonised Society; Wenhui Chen, China (in Chinese characters).
Presentation: Tax Incentives and Retirement Savings: Pablo Antolin, OECD.
Session 4: Pensions Supervisory Structures
Presentation: Overview of an Itegrated Supervisory Structure: Jurgen Boyd, Finanical Services Board, South Africa.
Background Document (for reference): IOPS Working Paper 1: A Review of the Pros and Cons of Integrating Pension Supervision with that of Other fFnancial Activities and Services.
Presentation: Comparing Integrated and Specialised Pension Supervision: John Ascroft, The Pensions Regulator, United Kingdom.
Session 5: Annuities - Provisions and Risks
Presentation: Retirement Payouts and Risks Involved: Colin Pugh and Pablo Antolin, OECD.
Background Document: Regulation of Enterprise Annuities - Report on Forms of Benefit Payment at Retirement: Colin Pugh.
Presentation: Pension Payouts - Risks and Alternatives: Solange Berstein, Superintendent of Pension fund Administrators, Chile.