|
|
The OECD is making the draft Core Principles of Private Pension Regulation available for public comment until 20 October 2015.
A key issue is to facilitate the application of the Core Principles to different types of private pension plans, especially personal and defined contribution plans, which are growing in importance in pension provision in many countries. The update also aims to provide operative guidance on how to implement private pension provision effectively and efficiently while addressing the lessons learnt from the turmoil financial markets experienced over the past few years.
These revisions will also improve consistency with other OECD legal instruments and policy guidance. The suggested changes to the Core Principles harmonise them with the G20/OECD High-Level Principles of Long-Term Investment Financing by Institutional Investors, the Recommendation of the Council on Good Practices for Financial Education Relating to Private Pensions and the G20/OECD High-Level Principles for Financial Consumer Protection. They also reflect the recommendations contained in the OECD Roadmap for the Good Design of Defined Contribution Pension Plans.