2013 OECD/IOPS Global Forum on Private Pensions

Asian Pensions: Lessons for the World

5-6 November 2013, Seoul, Republic of Korea

Discussions at the Global Forum focused on a number of critical policy, regulatory and supervisory issues affecting private and public pension provision in the Asia region.

Session 1: Review of main reforms in Asian pension systems, focusing on the opportunities and challenges for the development and combination of statutory social security programmes and private pension plans to strengthen the overall retirement income security in the Asian region.

Session 2: Examination of the role that annuities products can and should play in protecting individuals with the prospect of extended life expectancy, without forgetting that the providers of these products play an essential role as well.

Session 3: Issues and challenges encountered by supervisors when overseeing the distribution of and advising on annuities products. It will also address issues linked to efforts to increase the understanding of individuals of these products, facilitating their choices on the retirement product that best suits their interests and needs as well as enhancing consumer protection.

Session 4: The governance, internal structure and organisation of pension supervisory authorities.

Session 5: Key findings of the G-20/OECD project on Institutional investors and Long-term Investment. These include the High-Level Principles on Long-Term Investment Financing by Institutional Investors endorsed by G20 Leaders at their summit in September 2013.

The Global Forum brought together high-level officials from regulatory and supervisory authorities, leading experts from the pension fund industry and research institutes from both OECD and IOPS Member countries, as well as participants from Asia Pacific region. Representatives from international organisations, including the World Bank and the Asian Development Bank, also participated.