The OECD and IOPS invited comments on the draft Draft OECD/IOPS Good Practices for the Regulation and Supervision of Pension Funds’ Risk Management Systems between 5 July and 3 September 2010.
These draft good practices aim to outline the main features of risk management systems which pension funds employ. They cover the role of management in the risk management process, look in more detail at investment risk, solvency risk and operational risk (including outsourcing) control, and the risk management mechanisms which should be in place (including monitoring and reporting). The good practices also provide guidance for pension fund regulators and supervisors on how to check that such systems are not only in place but are operating efficiently.
Comments received were taken into account by delegates before finalising the text.
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