2nd OECD/IOPS MENA Workshop on Private Pension Supervision and Regulation: 1-2 March 2011; Amman, Jordan
The 2nd OECD/IOPS Workshop on Pension Supervision and Regulation was held in Amman, Jordan on 1-2 March 2011 and was jointly organised by the Organisation for Economic Co-operation and Development (OECD) within its programme of outreach activities in the Middle East and Northern Africa (MENA) region, the International Organisation of Pension Supervisors (IOPS) and the Insurance Commission of Jordan.
The workshop focused on a selected number of issues relative to pension supervision and regulation which are subject of intense policy debate at the moment in the majority of the countries around the world and in particular in the MENA region. Special attention during the conference was placed on the IOPS Toolkit for Risk-based Supervision. This a groundbreaking piece of work - providing much needed information on an under-researched topic - which will act as a practical guide to our members and other pension supervisors around the world as they develop their oversight systems, making them more efficient and aligned to the risks which they face. The Toolkit provides a check list to help supervisory authorities prepare for a move towards risk-based supervision, and a step by step guide to building a risk-scoring model, as well as in-depth case studies examining the risk-based approach of a range of IOPS members. Another important topic to be addressed at the workshop will be that of supervising defined contribution pension funds, with examples being used from Australia and Chile. The discussion also focused on improving pension system coverage. Finally, a session was dedicated to financial education and pensions.
The Workshop presented a unique opportunity for the government officials from regulatory and supervisory authorities from the Middle-East and Northern African region to discuss and exchange views on the policy priorities and key issues related to supervisory practices and standards with their counterparts from OECD/IOPS Member countries.
The Workshop was preceeded by the IOPS Technical Committee and Executive Committee meetings, held on 28 February.
This event was by invitation only.
Documentation for participants:Press release from Insurance Commission of Jordan
Ross Jones, President of IOPS and Deputy Chairman of APRA, Australia - Revised IOPS Principles / Self assessment methodology abd summary of IOPS members results.
Session I: Update on Jordan
Session II: Introduction to the IOPS Toolkit for Risk-based Supervision
- Introduction to IOPS Toolkit - Taliya Cikoja, IOPS Secretariat
- Preparing the Supervisory Authority and Pension Industry for RBS - Charles Machira, RBA, Kenya
Session III: Funds Improving Pension System Coverage
- Improving Pension Coverage of Informal Sector Workers - Fiona Stewart, OECD/IOPS Secretariat
- Improving Coverage in the Chilean Pension System - Solange Berstein, SP, Chile
- Update on Improvements to Pension System Coverage in the MENA Region - Ibrahim Muhanna, Muhanna Foundation
Session IV: Supervising Defined Contribution
- Introduction to IOPS Working Paper and Supervising DC Funds in Australia - Ross Jones
- Supervising DC Funds in Chile - Solange Berstein
- Supervising DC Funds in Italy - Ambrogio Rinaldi, COVIP, Italy
Session V: Update in Financial Education and Pensions
- Update of OECD Project on Financial Education - André Laboul, Head of Financial Affairs Division, OECD
- Update on Financial Education Campaigns - Charles Machira
Presentation: Dr. Michael Taylor: Regulatory Reform after the Crisis: Twin Peaks Revisited
Presentation: Mr. Peter Braumuller: Changes Affecting the Insurance Sector
Pensions in MENA: Potential for Reform, Middle East Insurance Review, May 2011
Dr. Michael Taylor discusses
Twin Peaks: Lessons from the Financial Crisis