IOPS Workshop on Pension Supervision in Africa, Dakar, Senegal, 5-6 February 2008

The Workshop on Pension Supervisions organised by the International Organisation of Pension Supervisors (IOPS) took place in Dakar, Senegal on 5-6 February 2008.

Objective Summary Record

The aim of the workshop was to cover selected policy issues and address current challenges and progress achieved in the development of robust and efficient pension supervisory systems in the African region.  After a series of consultations with colleagues, the following topics were identified as particularly relevant to pension supervisors in the region: (1) powers of supervisory agencies and supervisory enforcement; (2) reporting requirements and (3) training trustees and fiduciaries. Taking into consideration different level of development of pension systems of the countries in the African region– some having well developed private pension systems and others only moving to funded pension schemes – the IOPS' goal was to provide a useful context for fruitful interactive discussion and exchange of information and expertise among all participants of the event.

Experts from Australia and the United Kingdom, as well as the IOPS Members from Kenya, Nigeria and South Africa provided their insights and shared their knowledge and experience on the topics of the workshop from their countries’ perspective.  However, the Workshop was an extremely interactive meeting where a considerable time was devoted to each panel and to roundtable discussion and questions and answer sessions.

Participants

Senior governmental officials and leading pension policy experts from IOPS and non-member countries from the African continent attended the workshop.

Documentation

Agenda

Summary Record

Introduction (Mr. Ross Jones, President of IOPS and Deputy Chair of the Australian Prudential Regulation Authority: APRA)

Session 1

RD1: The Philosophy of Pensions Regulation: J. Ashcroft.

RD4: Ideal Regulatory and Supervisory Power for a Pension Authority.

RD10: Ideal Regulatory and Supervisory Power: J. Carmichael.

RD11: Pension Reform Process in Nigeria; Transition from Defined Benefits to Defined Contribution: M.K. Ahmad.

RD12: Supervision of Pensions - The Kenyan Experience: E. Odundo.

RD13: Supervisory Structure and Processes of the Nigerian Pension System: M. Ibrahim.

RD14: Design Issues for Pension Legislation in Malawi: P. Mhango.

Session 2

RD2: Reporting to the UK Pensions Regulator: J. Ashcroft.

RD5: Reporting Requirements: The Australian Experience: R. Jones.

Session 3

RD3: Training Trustees and Fiduciaries - the UK Pensions Regulator's Experience: J. Ashcroft.

RD6: Training Trustees and Fiduciaries - The Australian Experience: R. Jones.

RD16: Training Trustees and Fiduciaries - The Kenyan Experience: N. Mutuku.