Pension trends and the changing supervisory landscape

29-30 October 2015, Berlin, Germany

The Global Forum will explore current trends in global private pension systems and the ways in which pension regulatory and supervisory authorities are managing and reacting to the evolution of these systems. Some of the trends that will be considered include the increased interest in long-term investments and the prolonged period of low-interest rates in the financial services markets. The role of behavioural economics in the financial system, and the contributions that large pension funds may have on the economy and financial stability will also be considered.

Session 1: Speakers will focus on pension reforms across Europe, examining the current trends and the achievements, as well as the challenges in undertaking pension reforms

Session 2: Consideration will be given to pension funds’ long-term investment in the current low-interest rate environment. Speakers will explore both the short-run and long-run implications of on-going low-interest rates on pension funds and life-insurance companies, and will discuss the policy-making, regulatory and supervisory challenges.

Session 3: Discussion will centre on the role of large pension funds in the economy. Inter alia, this session will try to answer the questions: “Do large pension funds contribute to financial stability?” and “Can specific supervisory approaches and challenges be identified?”

Session 4: Addressing financial consumer protection in private pension systems, the panellists will draw on current OECD and IOPS research in the area, and discuss the role of pension supervisory authorities in fostering better consumer protection and providing financial literacy programmes related to private pensions

Session 5: Gathering insights from behavioural economics for the design of the pension pay-out phase, speakers will debate the solutions offered in the field of behavioural economics for the typical problems experienced by pension fund members at retirement and debate which of them could be applied in the pension pay-out phase. This Session will also review the ongoing OECD project on annuities and the experience of selected jurisdictions in the area.

The Global Forum will bring together high-level officials from regulatory and supervisory authorities, and leading experts from the pension fund industry and research institutes from both OECD and IOPS Member countries. Representatives from European and international organisations will also participate in the event.