OECD Core Principles of Private Pension Regulation27 September 2016
The OECD Core Principles of Private Pension Regulation were adopted by the OECD Council on 27 September 2016. They serve to encourage more efficient regulation and management of private pension systems, thereby helping countries to strengthen private pension systems and improve their complementary role in ensuring that retirement income is adequate. They provide governments, regulators and supervisors worldwide with a relevant common benchmark and high-level guidance on the design and operation of private pension systems.
The 2016 Core Principles have updated and expanded the 2009 OECD Core Principles of Occupational Pension Regulation. This update was conducted in coordination with pension regulators across OECD and IOPS countries and benefited from contributions received via a public consultation. The new revised Core Principles now include all funded pension arrangements, reflecting changes in the nature of private pension provision, especially the rise in defined contribution and personal pension plans. The changes harmonise them with other relevant instruments.