In 28-30 October 2013, Seoul will host the annual general meeting of the International Organisation of Pension Supervisors (IOPS) and the OECD/IOPS Global Forum on Private Pensions. The decision was made at the meeting of the IOPS Executive and Technical Committees, held in 5-6 June 2012.
For those who are not well upon the IOPS, the IOPS is a Paris-based international body of private pension supervisors with membership of 66 countries. The Organisation was established in July 2004, following the dissolution of the International Network of Pension Regulators (INPRS), for the need of more formal and independent organization. This international pension organisation’s major goal is to improve the supervision of private pension systems, and its specific aims are; 1) setting the international standards on pension supervision, 2) promoting cooperation and exchanges of relevant pension bodies, 3) providing a forum for private pension policy dialogue and information exchange, 4) working with relevant international bodies, e.g. improving statistical collection and analysis, and 5) distributing, communicating, and collecting such information.
Since its inception, the IOPS has been working closely with OECD with regards to private pension systems. The two organizations have annually held the joint Global Forum on Private Pensions since 2005. As for this year’s Forum, it is scheduled to be held in 23-24 October in Santiago, Chile under the theme of “Making Funded Pensions Work.”
Against the backdrop of growing pension market in Korea, and increasing challenges to private pensions around the world – for which the OECD recommended countries to seek later retirement and extend the coverage of private pensions (Pensions Outlook, June 2012) – the Financial Service Commission is looking forward to promote international exchanges of private pension issues and experiences, and contribute to improvement of pensions system by hosting the IOPS conferences in Seoul.