The International Organisation of Pension Supervisors (IOPS) approved a new set of principles for private pension supervision during its annual meeting held in Paris. These Principles will be circulated for consultation in the next year and will include the independence of the supervisory authority, the necessity for adequate resources and powers, risk-orientation, transparency and governance.
On IOPS' agenda for 2006 is a project on risk-based pension supervision, led by the World Bank, a report on cross-border pension supervision, the development of guidance for the use of IT in off-site supervision and a project on the licensing of pension funds and plans, joint with the OECD.
John Ashcroft of the UK's Pensions Regulator was re-elected IOPS president. Guillermo Larrain, of Chile's Superintendencia de Administradoras de Fondos de Pensiones, was elected as vice president.
IOPS press release
© IOPS - International Organisation of Pension Supervisors
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