Calls for comment on OECD draft Guidelines
1 August 2008

Written by Sophie Baker

Stakeholders in private pension schemes are urged to contribute their views on the Organisation for Economic Co-operation and Development’s (OECD) draft text of their Guidelines for Pension fund Governance.

The organisation welcomes all comments, from a general assessment to a more detailed opinion.

The Guidelines set out a framework for strengthening pension fund governance in order to better serve the needs of members and beneficiaries, tackling issues such as stakeholder representation in pension fund boards, the requirements of expertise and knowledge of the board, and the implementation of risk-based governance structures and mechanisms.

This draft is a revised version of the OECD recommendation issued in 2005, and reflects the views of the OECD’s 30-strong member governments as well as other countries including Brazil, Israel and South Africa. These countries have observer status in the Working Party on Private Pensions, the OECD body that developed the guidelines under the aegis of the Insurance and Private Pensions Committee.

Primarily addressed to governments, pension fund supervisors and pension fund associations, all comments must be received by 1 October 2008 for consideration by the Working Part on Private Pensions. All responses will be published on the OECD website unless explicitly rejected to. The Guidelines can be found here.