OECD/IOPS/MPFA GLOBAL FORUM ON PRIVATE PENSIONS

Registration

Opening address:

Dr Carmine Di Noia, Director, Directorate for Financial and Enterprise Affairs, OECD

Mrs Astrid Ludin, Deputy Commissioner, the Financial Sector Conduct Authority of South Africa, IOPS President

The Hon John KC Lee, GBM, SBS, PDSM, PMSM, Chief Executive of the Hong Kong Special Administrative Region of the People’s Republic of China (tbc)

Transformation journey of MPF:

The session will share key development milestones of the Mandatory Provident Fund (MPF) System in Hong Kong, China and its reform journey. The session will also recount how the MPF System has become a cornerstone in the retirement framework in Hong Kong, China, and the relevance of its experiences in global pension landscape.

Session 1: Digitalization in pensions, including the use of AI for supervisory purposes

The session will be devoted to the presentation of early insights from the launch and nascent operation of the eMPF Platform in Hong Kong, China. The session will also address latest jurisdictions’ experiences with the use of innovative technology, including Artificial Intelligence, in the pension sector and by pension supervisors.

Lunch

Session 2: Default life-cycle investment strategies

The session will discuss how pension funds in selected jurisdictions’ design and implement default life-cycle investment strategies. It will also cover policy measures aimed at optimising the design of life-cycle default investment products to achieve better asset allocation outcomes, support members’ participation and contribution levels, and ultimately enhance retirement adequacy and outcome.

Coffee break

Session 3: Investment diversification of pension funds

The session will discuss investment strategies of large pension funds, with the focus on the diversification, geographical (e.g. domestic vis-à-vis overseas) and asset classes.

Registration

Session 4: Roundtable on encouraging voluntary contributions

The roundtable will address global policy issues and experiences related to encouraging voluntary contributions from participants of pension systems and other savers in their jurisdictions.

Coffee break

Session 5: Role of financial centres in developing pension systems

The session will discuss how financial centres may contribute to pension systems through supporting the financial infrastructure, governance system and talents as well as making investment with appropriate risk-return profiles by providing a liquid and well- functioning market with a diverse range of investment instruments and services that are soundly regulated. The session will gather insights and experience from experts to distil the necessary conditions for pension systems to benefit from advantages offered by financial centres.

Lunch

Session 6: Update on international standards and their implementation: OECD Core Principles of Private Pension Regulation and IOPS Principles of Private Pension Supervision

The session will provide an update on recent changes in two key instruments of IOPS and OECD.

Coffee break

Session 7: Supervisory dialogue with stakeholders - clear and transparent pensions: turning complex data into member trust and resilience 

This panel will explore supervisory initiatives to promote transparency and member engagement in pension systems, highlighting experiences from Hong Kong, China and other jurisdictions. Transparency will be discussed both from trustees’ perspectives and from supervisors, covering pension communication, fee disclosure, fund performance, service quality, fund choice and communication re. market downturns.  The session will also explore the role of supervisors in fostering transparency through policy frameworks, disclosure mandates, as well as using digital tools and platforms to enhance accessibility of information. Challenges such as balancing information sufficiency with avoiding overload, addressing diverse member needs, and ensuring equitable access to information will be examined.

Session 8: Supervisory assessment of fit and properness of trustees

The session will present supervisory experiences related to ensuring proper quality of trustees and their governance.

Photo taking

Closing remarks