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The draft text of the OECD Guidelines for Pension Fund Governance was made available for public comment through an online consultation between 5 August and 1 October 2008. The OECD Working Party on private Pensions considered the submissions at a meeting on 1 December 2008.
The draft Guidelines lay down a framework for strengthening pension fund governance in order to better serve the needs of members and beneficiaries. The revised Guidelines tackle issues such as stakeeholder representation in pension fund boards, the requirements of expertise and knowledge of the board, and the implementation of risk-based governance structures and mechanisms.
These draft Guidelines revise the OECD recommendation issued in 2005. They reflect the views of the 30 OECD member governments as well as other countries (Brazil, Chile, Estonia, India, Israel, Russian Federation, and South Africa) that have observer status in the Working Party on Private Pensions, the OECD body that developed the guidelines, under the aegis of the Insurance and Private Pensions Committee.
The draft Guidelines are primarily addressed to governments, pension fund supervisors and pension fund associations.
Background document
Pension Fund Governance: Challenges and Potential Solutions
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