For Official Use DAF/AS/PEN/WD(2015)8
Organisation de Coopération et de Développement Économiques Organisation for Economic Co-operation and Development 27-Oct-2015 ______English - Or. English DIRECTORATE FOR FINANCIAL AND ENTERPRISE AFFAIRS INSURANCE AND PRIVATE PENSIONS COMMITTEE For Official Use DAF/AS/PEN/WD(2015)8
Working Party on Private Pensions
SUMMARY RECORD
34th Session
22-23 June 2015
This document contains the Summary Record of the WPPP meeting held on 22-23 June 2015.
For further information please contact Mr. Pablo Antolin [Tel: +33 145 24 90 86; Email: [email protected]] or Ms Bridget McGeehan [Tel: +33 145 24 64 20; Email: [email protected]].
English English JT03385228
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DAF/AS/PEN/WD(2015)8
WORKING PARTY ON PRIVATE PENSIONS
34th Session, 22-23 June 2015
SUMMARY RECORD
Closed session of the WPPP
1. Accession review of Colombia
The Working Party:
took note of a presentation by the delegation of Colombia on their private pension system and their self-assessment according to the OECD Recommendation on Occupational Pension Regulation.
sought clarification regarding the adequacy of the retirement saving schemes in providing sufficient lifetime retirement income, in light of the low coverage rates, low level of total contributions and benefit withdrawals through lump-sum payments. Other issues discussed included: (1) the need for complementarity between funded private and PAYG public pensions arrangements; (2) financial education, as individuals need to make important decisions regarding retirement choices; and (3) the low number of market actors (pension funds) and high administrative costs.
agreed to carry out the next review in December 2015 following a technical mission and a detailed review against the Core Principles to be prepared by the OECD Secretariat.
was invited to provide comments through the written procedure by 10 August.
2. Core Principles of Private Pension Regulation
The Working Party:
took note of the main changes made by the Secretariat to the Core Principles since the meeting in December 2014 (DAF/AS/PEN/WD(2012)3/REV6) which reflected the comments made by delegations at that meeting and by written procedure. It acknowledged the inclusion of the additional commentary and an introductory text to each Core Principle.
took note of the Secretariat document DAF/AS/PEN/WD(2012)3/REV6/ADD1 which provided the comments received and their treatment.
agreed to have a final check in 2 weeks times on a new version to be circulated by the OECD Secretariat in early July incorporating the changes discussed and agreed during the meetings.
agreed to circulate the Core Principles for public consultation after the final check and for 90 days, including an introduction to the Principles, implementation guidelines, with introductory texts, and the glossary.
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agreed to discuss at the next meetings of the WPPP scheduled for 30 November – 1 December a document compiling all the comments received during the public consultation and including an overall initial assessment, unless a full new revised document of the Core Principles can be prepared in time for the WPPP.
Open session of the WPPP
1. Adoption of the Agenda
The Working Party:
adopted the agenda DAF/AS/PEN/A(2015)1/REV1
adopted the summary record of the last meeting DAF/AS/PEN/WD(2015)2 with the amendment that the Working Party agreed to reflect in the Core Principles of Private Pension Regulation the flexibility to apply them only to occupational plans.
2. Project on Financial Incentives and Retirement Savings
The Working Party:
took note of a presentation by the Secretariat on the document DAF/AS/PEN/WD(2015)3 providing a description of the tax treatment of funded pension plans in OECD and EU countries. The discussion started with presentations by Delegates from Spain and Chile, who described the tax treatment of private pensions and other financial incentives to promote private pensions in place in their respective countries.
acknowledged the usefulness of this work as this kind of information, made comparable for more than 40 countries, is not available anywhere else.
took note of the World Bank’s proposal to cooperate on matching contributions.
asked the Secretariat to clarify the rational for considering employer matching contributions in a paper on tax incentives and to check further the tax treatment of different pay-out options.
agreed to provide written comments and validate the country profiles compiled in the annex (DAF/AS/PEN/WD(2015)3/ADD1) by the 10th of August.
supported the publication, including in the OECD webpage, of the summary document and its annex with country profiles once all the information has been validated.
3. Risk management of annuity products
The Working Party:
took note of a presentation by the Secretariat on the document DAF/AS/PEN/WD(2015)4. This document examines the risks faced by annuity providers as a result of different types of annuity products, and looks at how the annuity provider can manage the risks that each product presents through both product design and ongoing risk management strategies.
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agreed on the classification of products and suggested eventual areas to expand this research, covering supervisory and governance aspects relating to annuities in addition to the quantitative aspects of risk management.
agree that the next steps of this project will be to produce a policy document, including a section on issues relating to consumer protection.
was invited to provide comments through the written procedure by 10 August.
4. Draft G20 report on regulation of insurance company and pension fund investment
The Working Party:
took note of the Secretariat presentation of a draft report for the G20 Finance Ministers and Central Bank Governors meeting in September on the regulation of insurance company and pension fund investment, DAF/AS/PEN/WD(2015)5. The draft report draws on responses provided by delegates to the questionnaire on regulation affecting insurer investment for the insurance side, and on the OECD annual pension investment regulation survey for the pension side. The draft report provides a conceptual framework and looks at three types of regulation which target the investments of insurance companies and pension funds – quantitative limits, risk-based requirements and qualitative behavioural requirements – and discusses some of the impacts these may have on investment strategies.
was invited to provide comments through the written procedure by 6 July so that a document could be ready for the G20 meetings in September.
5. Conflicts of interest in retirement financial advice – Background report
The Working Party:
took note of the Secretariat document DAF/AS/PEN/WD(2015)6 describing some of the main conflicts of interest and approaches implemented by some countries to address them.
heard from four participants in the roundtable on the sources and types of conflicts of interest, evidence of the potential impact these conflicts have on retirement savings, any regulatory initiatives which have been taken to address the problem and finally the impact and effectiveness of these interventions
thanked the speakers Joseph Piacentini (Office Director and Chief Economist, Employee Benefits Security Administration (EBSA), United States Department of Labor), David Geale (Director of Policy, United Kingdom Financial Conduct Authority (FCA)), Theodor Kockelkoren (Board member, Netherlands Authority for the Financial Markets (AFM)), and Carlos Ramírez (President, Comision National del Sistema de Ahorro para el Retiro (CONSAR)) for their participation and insightful presentations and comments.
took note that the speakers highlighted compensation structures as the main source of conflicts of interest; that explicit commissions for selling certain products seemed to be the most obvious source of the problem, although volume targets and soft incentives such as concert tickets could also present an issue. Some evidence was presented that such conflicts reduce the potential investment returns individuals can earn from their retirement savings, as lower cost products are not suggested to the individual.
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took note that three main policy interventions have been used in various combinations to address these issues: disclosure requirements, requirements for qualifications for financial advisors and explicit controls on compensation structures for financial advisors such as banning commission payments.
was invited to provide comments on the Secretariat paper DAF/AS/PEN/WD(2015)6 through the written procedure by 10 August.
6. Financial education and retirement planning
The Working Party:
took note of the document on financial education and retirement planning (DAF/AS/PEN/WD(2014)16/REV1) and welcomed the joint work with the financial education team on retirement savings and the role that financial education tools can play.
expressed interest in measuring the impact of financial education on retirement planning.
suggested adjustments or updates in a few paragraphs of the document.
was invited to provide written comments by 30 of July.
7. Low interest rate environment: can pension funds and insurance companies keep their promises?
The Working Party:
took note of the document DAF/AS/PEN/WD(2015)7 and the Secretariat presentation.
requested the Secretariat for the opportunity to discuss pension-related chapters of the OECD Business and Finance Outlook more thoroughly in the future at working party meetings prior to publication.
was invited to provide comments through the written procedure by 10 August.
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Participants List for Joint Working Party on Private Pensions and IOPS Meeting
22/6/2015 - 23/6/2015
Allemagne/Germany Ms. Maria HUENTELMANN +49 228 4108 7531 Senior Policy Officer +49 228 4108 67531 Federal Financial Supervisory [email protected] Authority - BaFin Graurheindorfer Str. 108 53117 Bonn Germany
Allemagne/Germany Mrs. Stephanie SIERING +49 228 4108 1267 Policy Officer +49 228 4108 61267 International Policy and Affairs - [email protected] Insurance and Pension Funds Supervision Federal Financial Supervisory Authority (BaFin) GRAURHEINDORFER STR 108 53117 Bonn Germany
Allemagne/Germany Ms. Arlena TENNEMANN +30 18682 2366 Referat VII B 4 +30 18682 1721 Federal Ministry of Finance [email protected] DIVISION VII B 4 WILHELMStRASSE 97 10117 Berlin Germany
Allemagne/Germany Dr. Michaela WILLERT +49 30 20 20 5222 German Insurance Association (GDV) [email protected] Wilhelmstrasse 43/ 43G 10117 Berlin Germany
Australie/Australia Ms. Sue VROOMBOUT +33 1 40 59 33 73 Minister - Counsellor (Economic) +33 1 40 59 33 94 Permanent Delegation of Australia [email protected] to the OECD 4, rue Jean Rey 75724 Paris France
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Australie/Australia Mr. Greg BRUNNER +61 2 92 10 31 48 General Manager, Supervisory +61 2 92 10 30 22 Support Division [email protected] Australian Prudential Regulation Authority 400 George Street (Level 26) 2000 Sydney Australia
Australie/Australia Mr. Stephen GLENFIELD +61 3 9246 7502 General Manager, South West +61 3 9663 5085 Region - Specialised Institutions [email protected] Division Australian Prudential Regulation Authority Level 21, Casselden Place 2 Lonsdale St 3000 Melbourne Australia
Australie/Australia Ms. Louise MACAULAY +61 2 92 10 31 48 Australian Prudential Regulation +61 2 92 10 30 22 Authority [email protected] 400 George Street (Level 26) 2000 Sydney Australia
Autriche/Austria Ms. Constanze FAY +43 1 249 59 2104 Senior Advisor +43 1 249 59 2199 Financial Supervision of Insurance [email protected] and Pension Companies Financial Market Authority (FMA) Otto Wagner Platz 5 1090 Vienna Austria
Autriche/Austria Dr. Gerlinde TAURER +43 1 249 59 4209 Senior Advisor +43 1 249 59 4099 International Affairs and European [email protected] Integration Financial Market Authority (FMA) Otto Wagner Platz 5 1090 Vienna Austria
Canada Mr. Vincent JALBERT +1 613 369 3849 Senior Project Leader, Pensions Financial Sector Division [email protected] Finance Canada Financial Sector Policy Branch 90 Elgin Street K1A 0G5 Ottawa Canada
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Canada Ms. Angela MAZEROLLE +1 416 590 2090 Chairman +1 416 226 7878 Canadian Association of Pension [email protected] Supervisory Authorities (CAPSA) 5160 Yonge Street, 18th Floor,Box 85 M2N 6L9 Toronto Canada
Chili/Chile Dr. Olga FUENTES +562 275 30204 Deputy Chair of Regulation +562 275 30121 Superintendence of Pensions [email protected] Libertador Bernardo Ohiggins 1449 torre 2 piso 15 Santiago Chile
Corée/Korea Mr. Youngkwi YUN +33 1 44 05 21 90 Counsellor +33 1 47 04 07 39 ELSAC, Health committee, LEED [email protected] Permanent Delegation of Korea to the OECD 4, place de la Porte de Passy 75016 Paris France
Corée/Korea Mr. Hyunah KIM +82 44 202 7559 Deputy Director Ministry of Employment and Labor [email protected]
Corée/Korea Mr. Won Sin KIM Team manager General Insurance Association of Korea
Corée/Korea Mr. Youngrok KIM Assistant Director Ministry of Employment and Labour
Corée/Korea Mr. Tae Ho LEE +82 2 6333 1206 Executive Director Korea Fixed Income Research [email protected] Institute Korea
Corée/Korea Mr. Jhinyoung SHIN Professor Yonsei University
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Espagne/Spain Mr. Rafael FERNANDEZ LÓPEZ- +34 91 339 7300 COVARRUBIAS +34 91 339 70 87 Insurance and Pension funds [email protected] supervisor Economy and Competitiveness Ministry Dirección General de Seguros y Fondos de Pensiones Directorate General of Insurance and Pension Funds (DGSFP) PO Castellana 44 28046 Madrid Spain
Espagne/Spain Ms. Flavia RODRIGUEZ-PONGA Director General Insurances and Pension Funds [email protected] Ministry of Economy and Competitiveness
Estonie/Estonia Ms. Pille PRUUNSILD +33 1 56 64 04 66 Counsellor for Financial Affairs Permanent Delegation of Estonia [email protected] to the OECD 49, rue Galilée 75116 Paris Estonia
Estonie/Estonia Ms. Kristiina KUBJA +372 611 3658 Chief Specialist Ministry of Finance [email protected]
États-Unis/United Mr. Cyprien BECHLER +33 1 43 12 74 20 States Economic Analyst +33 1 43 12 74 80 Permanent Delegation of the [email protected] United States to the OECD 12, avenue Raphael 75116 Paris France
États-Unis/United Ms. Lydia BORGATTA +1 212 538 1926 States Credit Suisse USA 11 Madison Ave. [email protected] 10022 New York United States
États-Unis/United Mr. Peter BRADY States Investment Company Institute
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États-Unis/United Mr. Brian BUYNISKI +1 202 693 8545 States International Benefits Specialist Department of Labor [email protected] Employee Benefits Security Administration 200 Constitution Ave NW 20210 Washington United States
États-Unis/United Ms. Anna DRIGGS States Investment Company Institute
États-Unis/United Mr. Richard Paul HINZ States Senior Advisor American Benefits Council (ABC) [email protected] United States
États-Unis/United Ms. Shantell ISAAC +1 202-624-2397 States Senior International Policy Analyst American Council of Life Insurers [email protected] (ACLI)
États-Unis/United Mr. Richard LAWSON States Vice President – Federal Government Relations [email protected] Principal Financial Group Principal Financial Group 1350 I Street, NW Suite 880 20005 Washington
États-Unis/United Mr. Joseph PIACENTINI +1 202 693 8427 States Chief Economist and Director of +1 202 219 5333 Policy and Research [email protected] Department of Labor-Employee Benefits Security Administration Department of Labour Office of Policy and Research Room N-5718 200 Constitution Ave. N.W. Washington United States
États-Unis/United Mr. David POWELL +1 202 861 6600 States Principal Groom Law Group, Chartered [email protected] 1701 Pennsylvania Ave. Suite 1200 20006 Washington DC United States
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États-Unis/United Mr. Jonathan WEYER +33 1 43 12 74 25 States Economics and Finance Advisor +33 1 43 12 74 84 Permanent Delegation of the [email protected] United States to the OECD 12, Avenue Raphael 75775 Paris France
Finlande/Finland Mr. Mikko KUUSELA +358 295 163 182 Senior Actuary +358 9 160 73876 Ministry of Social Affairs and [email protected] Health P.O. BOX 33 00023 GOVERNMENT Finland
France Mr. Laurent BORNIA +33 1 4487 7316 Adjoint au Chef du Bureau Entreprises et Intermédiaires [email protected] d’Assurance (Assur2) DIRECTION GENERALE DU TRESOR Ministère de l’Economie, de l’Industrie et du Numérique Bureau Entreprises et Intermédiaires d'Assurance/A 139 rue de Bercy Télédoc 324 75 572 Paris Cedex 12 France
Hongrie/Hungary Mr. Gábor HORVÁTH +33 1 53 65 65 00 Counsellor Permanent Delegation of Hungary [email protected] to the OECD 140, avenue Victor Hugo 75116 Paris France
Hongrie/Hungary Dr. Richard BENSE +36 1 489 93 65 Head of Pension Funds +36 1 489 91 02 Supervision and Inspection [email protected] Division Central Bank of Hungary 39, Kristina Krt H-1013 Budapest Hungary
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Hongrie/Hungary Dr. Melinda TÓTH +361 7951 746 legal expert Pension Department [email protected] Ministry for National Economy József Nádor tér 2-4 H-1051 Budapest Hungary
Irlande/Ireland Mr. Tom DUNPHY +353 1 6131922 Head of Compliance +353 1 6318602 Enforcement [email protected] Pensions Authority VERSCHOYLE HOUSE 28 30 LOWER MOUNT STREET 2 Dublin Ireland
Israël/Israel Mr. Harel SHARABI +97225317023 Head of Pensions Dept Capital Markets and Savings [email protected] Division Ministry of Finance
Italie/Italy Mr. Simone CECCARELLI +39 06 69 506 393 Research Department +39 06 69 506 304 COVIP -Italian Pension Funds [email protected] Supervisory Autorithy - COVIP VIA IN ARCIONE, 71 00187 Rome Italy
Italie/Italy Mr. Ambrogio RINALDI +39 06 69596 210 Director COVIP-Pension Funds Supervision [email protected] Commission Via in Arcione, 71 00187 Rome Italy
Italie/Italy Mr. G. RUGGIERO 3906 4741736 Ministère de l'Economie 3906 4761 3932
Japon/Japan Mr. Junichi SAKAMOTO +81 3 55 33 3712 Chief Adviser to Pension +81 3 55 33 3755 Management Research Group [email protected] Nomura Research Institute 1-6-5 Marunouchi Chiyoda-ku 100-0005 Tokyo Japan
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Japon/Japan Mr. Yohei ITO +33 1 53 76 61 32 First Secretary Permanent Delegation of Japan to [email protected] the OECD 11, avenue Hoche 75008 Paris France
Japon/Japan Mr. Kazuo NAGAI +81 3 3286 2608 Director +81 3 3201 6713 International Affairs [email protected] The Life Insurance Association of Japan
Luxembourg Mr. Laurent VAN BURIK +352 26 25 15 88 Conseiller de direction 1ère classe Commission de Surveillance du [email protected] Secteur Financier (CSSF) 110, route d'Arlon L-2991 Luxembourg Luxembourg
Luxembourg Mrs. Nathalie WALD +352 26251 518 Conseiller de direction Service Surveillance des Fonds de [email protected] Pension Commission de Surveillance du Secteur Financier 110, route d'Arlon L-2991 Luxembourg Luxembourg
Mexique/Mexico Mr. Carlos RAMIREZ +52 55 3000 2601 President CONSAR - National Commission [email protected] for the Retirement and Pensions System Camino a Sta. Teresa 1040 3er. piso 14210 Mexico City Mexico
Mexique/Mexico Dr. Jesus PUENTE TREVINO +33 1 565 92914 Minister-Counsellor for Financial +33 1 4563 0363 Affairs [email protected] Mexican Secretariat of Finance and Public Credit to the OECD Permanent Delegation of Mexico to the OECD 8 Rue de Berri 75008 Paris France
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Mexique/Mexico Ms. Larisa MORA AGUILAR +52 55 36881366 Deputy Director of the Insurance, Pension and Security Unit [email protected] Insurance, Pensions and Social Security Unit Ministry of Finance and Public Credit (SHCP) Palacio Nacional S/N1er Patio Mariano, 3er PisoOficina 3045 06000 Mexico City Mexico
Mexique/Mexico Mr. Fernando AVILA BOJALIL +33 1 565 92909 Counsellor for Financial Affairs Permanent Delegation of Mexico [email protected] to the OECD 8, rue de Berri 75008 Paris
Mexique/Mexico Mr. Héctor RODRÍGUEZ-CABO Insurance and Surety Commission of Mexico (CNSF) [email protected] Mexico
Mexique/Mexico Mr. Hector ROMERO +52 55 5724 7557 Insurance & Surety National Commission [email protected] INSURGENTES SUR 1971 PLAZA INN TORRE 2 NTE 1ER PISO 01020 Mexico City Mexico
Nouvelle-Zélande/New Dr. Lindy FURSMAN +33 1 45 01 43 43 Zealand Economic Counsellor Permanent Delegation of New [email protected] Zealand to the OECD New Zealand Delegation to the OECD Paris France
Pays-Bas/Netherlands Dr. Dirk BROEDERS +31 205 24 57 94 Senior Strategy Advisor +31 205 24 18 85 Supervisory Strategy Department [email protected] Dutch Central Bank (DNB) P O BOX 98 1000 AB Amsterdam Netherlands
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Pays-Bas/Netherlands Mr. Berend Nicolaas GROOT +31 70 333 4237 Advisor Directorate of Industrial relations [email protected] Ministry of Social Affairs and Employment Pension Policy Department Postbus 90801 2509 LV The Hague Netherlands
Pays-Bas/Netherlands Mr. Theodor KOCKELKOREN +31 207 972061 AFM Management Board +31 207 973803 Board [email protected] AFM Vijzelgracht 50 1001 GS Amsterdam Netherlands
Pologne/Poland Mr. Dominik KOMOREK +48 22 661 17 26 Senior Specialist +48 22 661 17 36 Department of Social Insurance [email protected] Ministry of Labour and Social Policy Nowogrodzka 1/3/5 00-513 Warsaw Poland
Pologne/Poland Mr. Slawomir POMARANSKI +48 22 262 53 64 Head of Standards and Procedures +48 22 262 49 50 Unit [email protected] Pension Investment Supervision Department Polish Financial Supervision Authority Pl. Powstancow Warszawy 1 00-950 Warsaw Poland
Pologne/Poland Mr. Krystian WIERCIOCH +48 22 262 49 45 Deputy Director of Insurance and +48 22 262 49 50 Pension Inspection Department [email protected] Polish Financial Supervision Authority (KNF) Pl. Powstancow Warszawy 1 00- 950 Warsaw Poland
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Pologne/Poland Mr. Wojciech WYSZYNSKI +48 22 262 40 38 Polish Financial Supervisory Authority [email protected] pl. Powstancow W.-wy 1 Warsaw Poland
Portugal Ms. Ana Rita MAXIMO +351 21 798 28 56 Legal Adviser +351 21 795 46 10 Market Conduct Supervision and [email protected] Institutional Relations Autoridade de Supervisão de Seguros e Fundos de Pensões (Portuguese Insurance and Pension Funds Supervisory Authority) Avenida da República, 76, 5° 1600-205 Lisbon Portugal
Portugal Mr. Paulo LEIRIA +33 1 45 03 33 69 Economic Counsellor +33 1 45 03 22 03 Permanent Delegation of Portugal [email protected] to the OECD 10 bis, Rue Edouard Fournier 75016 Paris France
République Mr. Tomas AMBRA +421 25787 3363 slovaque/Slovak Head of Securities Market and Republic Pension Savings Regulation [email protected] Section Regulation Department National Bank of Slovakia Imricha Karvaša 1 813 25 Bratislava Slovak Republic
République Mr. Juraj CENKER +421 2 2046 1909 slovaque/Slovak Head of Department of Pension Republic Saving [email protected] Ministry of Labour Social Affairs and Family SPITALSKA 4 816 43 Bratislava Slovak Republic
République Ms. Julia CILLIKOVA +42 1 257 873 300 slovaque/Slovak Director of Regulation Department +42 1 257 871 118 Republic National Bank of Slovakia [email protected] Imricha Karvaša 1 813 25 Bratislava 1 Slovak Republic
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République Ms. Ivona MATOUSOVA +33 1 46 47 29 53 tchèque/Czech Economic and Financial Counsellor +33 1 46 47 29 44 Republic Permanent Delegation of the [email protected] Czech Republic to the OECD 40, rue de Boulainvilliers 75016 Paris France
République Mrs. Aneta KARLIKOVA +420 257042258 tchèque/Czech Expert Republic Financial Markets [email protected] Ministry of Finance
Royaume-Uni/United Mr. David GEALE +44 20 7066 5430 Kingdom Director of Policy Policy [email protected] Financial Conduct Authority (FCA) 25 The North Colonnade Canary Wharf E14 5HS London United Kingdom
Royaume-Uni/United Mr. Richard JORDAN +44 207 7449 7386 Kingdom International and EU Pensions +44 207 7712 2021 Policy Team / Private Pensions [email protected] Policy Department for Work and Pensions (DWP) CAXTON HOUSE 6 12 TOTHILL STREET SW1H 9NA London United Kingdom
Royaume-Uni/United Mrs. Claire LAWRIE +44 20 7066 7288 Kingdom International Relations Department [email protected] Financial Conduct Authority 25 The North Colonnade, E14 5HS London United Kingdom
Royaume-Uni/United Mr. Alan NAPIER +44 207 7449 7386 Kingdom International and EU Pensions +44 207 7712 2021 Policy Team / Private Pensions [email protected] Policy Department for Work and Pensions (DWP) CAXTON HOUSE 6 12 TOTHILL STREET SW1H 9NA London United Kingdom
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Suisse/Switzerland Mr. Cyril MALHERBE +44 58 462 91 08 Juriste/Legal Advisor + 41 58 462 37 35 International Affairs [email protected] Swiss Federal Social Insurance Office Effingerstrasse 20 3003 Berne Switzerland
Suisse/Switzerland Mr. Olivier STEUDLER +33 1 49 55 74 55 Conseiller d'Ambassade +33 1 45 51 01 49 Délégation permanente de la [email protected] Suisse auprès de l'OCDE 28, rue de Martignac 75007 Paris France
Suisse/Switzerland Mr. Roman SAIDEL +41 58 462 91 16 Head Direct Supervision +41 58 462 26 96 Direct Supervision [email protected] Occupational Pension Supervisory Commission OPSC 3001 Berne Switzerland
Suisse/Switzerland Mr. André TAPERNOUX +41 58 462 9209 Head Risk Management +41 58 462 2696 Risk Management [email protected] Federal Occupational Pensions Regulatory Commission Postfach 7461 3001 Bern Switzerland
Turquie/Turkey Ms. Elvan ONGUN +33 1 42 88 50 02 Economic Counsellor Permanent Delegation of Turkey [email protected] to the OECD 9, rue Alfred Dehodencq 75116 Paris France
Turquie/Turkey Mr. Gokhan DURMAZ +90 216 571 66 22 Coordinator +90 216 571 66 01 System Development and [email protected] Information Technologies Pension Monitoring Center Sarikanarya Sokak Yolbulan Plaza A Blok No 18 K:1 Kozyatagi, Kadikoy Istanbul
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Turquie/Turkey Mr. Gökhan YAHYA +90 312 204 7269 Expert +90 312 212 8871 Department for Private Pension [email protected] Undersecretariat of Treasury INONU BULVARI NO 36 EMEK 06530 Ankara Turkey
UE/EU Mr. Yann GERMAINE +32 2 295 7526 Policy Officer DG FISMA – Financial Stability, [email protected] Financial Services and Capital Markets Union DG Internal Market DG competition Rue de Spa 2 B-1049 Brussels Belgium
Colombie/Colombia Mr. Jaime Eduardo CARDONA Director of Economic Regulation for Social Security [email protected] Ministry of Finance of Colombia
Colombie/Colombia Ms. Catalina CRANE High level contact Colombia's accession to OECD [email protected] High level contact Colombia's accession to OECD France
Colombie/Colombia Mr. Oscar MARTINEZ Deputy Director of the Financial Regulation Unit Ministry of Finance of Colombia
Colombie/Colombia Ms. Johana MORENO + 33 1 45 20 47 48 Relations de la Colombie auprès de la OCDE [email protected] OECD Embassy of Colombia in France 3, rue Alberic Magnard 75116 Paris France
Colombie/Colombia Mr. Felipe SANABRIA Stagiaire Delegation of Colombia to the OECD
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Colombie/Colombia Miss Alejandra TARAZONA +33782988496 OECD Relations Ambassade de Colombie en [email protected] France
Colombie/Colombia Mr. Felipe TORRES +33 1 45 20 47 48 Intern for the OECD Delegation Embassy [email protected] Colombian embassy 3 rue alberic magnard 75016 75016 Paris France
Colombie/Colombia Mr. Sebastián TRUJILLO + 1 45 20 47 48 Relations de la Colombie auprès de l'OCDE [email protected] Ambassade de Colombie en France 3 rue Albéric Magnard 75116 Paris France
Fédération de Ms. Elena ARTEMOVA +7 495 748 49 25 Russie/Russian Deputy Director, Finance Policy +7 495 748 49 24 Federation Department [email protected] Finance Ministry of the Russian Federation 9, Ilyinka St. 109097 Moscow Russian Federation
Fédération de Mr. Dmitry BELOVALOV Russie/Russian Deputy Director Federation Department of Pensions Ministry of Labour and Social Protection of the Russian Federatio
Fédération de Ms. Antonina GLADKOVA +7 495 926 99 01 ext. 1954 Russie/Russian Adviser of International +7 495 606 15 14 Federation Cooperation Division [email protected] Department of Legal and International Affairs Ministry of Labour and Social Protection of the Russian Federation Il'yinka street bldg.21 103132 Moscow Russian Federation
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Fédération de Ms. Maria GORNOSTAEVA +7 495 650 86 44 Russie/Russian Leading Councillor +7 495 650-83-13 Federation Department of Social [email protected] Development and Innovations Ministry of Economic Development of the Russian Federation 1-st Tverskaya-Yamskaya str., 1,3 125993 Moscow Russian Federation
Fédération de Mrs. Natalia KAMENSKAYA Russie/Russian Collective Investment Department Federation Central Bank of Russia [email protected]
Fédération de Mr. Alexander KURTIN +7 495 986 41 67 Russie/Russian First Deputy Chairman of the Federation Board [email protected] Pension Fund Of the Russian Federation 4, Shabolovka Street 119991 Moscow Russian Federation
Fédération de Mrs. Natalia LYSKO +7 495 651-77-56 Russie/Russian Specialist, OECD Division Federation Department of International [email protected] Organizations Ministry for Economic Development & Trade (DEV) 18, 1 OVCHINNIKOVSKAYA NAB 113 324 Moscow Russian Federation
Fédération de Ms. Elena NENAKHOVA + 7 495 213 05 31 Russie/Russian Head of Division on strategy for Federation financial markets functioning [email protected] Central Bank of the Russsian Federation
Fédération de Mr. Vladimir TAMOZHNIKOV Russie/Russian Deputy head of department Federation Collective investment and trust [email protected] management department Bank of Russia
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Fédération de Ms. Lilia TARANIK +7 495 986 4167 Russie/Russian Director +7 499 237 54 96 Federation Division for International [email protected] Cooperation Pension Fund Of the Russian Federation 4, Shabolovka Street 119991 Moscow Russian Federation
Fédération de Ms. Anna TIUKAEVA Russie/Russian Leading Expert, Financial Market Federation Regulation Development Unit, Financial Market Development Department The Central Bank of the Russian Federation
Lettonie/Latvia Ms. Inga FORDA +37 1670 95585 Senior expert, Financial Markets Policy Department [email protected] Financial Markets Policy Division Ministry of Finance (FIN) SMILSU STREET 1 LV-1919 Riga Latvia
Lettonie/Latvia Ms. Ieva OSE head of pensions and Investment Funds Division [email protected] Financial and Capital Market Commission Kungu street 1 1050 Riga Latvia
Lituanie/Lithuania Ms. Justina PUPIENIENE +370 5268 0520 Head of Financial Services and +370 5 261 5665 Markets Analysis Division [email protected] Central Bank of Lithuania Zirmunu str. 151 LT-09128 Vilnius Lithuania
Lituanie/Lithuania Mr. Andrius SKARNULIS +370 5 268 0506 Chief Specialist in Financial Servises Analysis Unit, [email protected] Supervision Service Bank of Lithuania Zirmunu Str 151 Vilnius Lithuania
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Afrique du Sud/South Ms. Rosemary HUNTER +27 12 422 2845 Africa Deputy Executive Officer: +27 12 346 6510 Retirement Funds [email protected] Retirement Funds Financial Services Board PO Box 35655 0102 Menlo Park South Africa
Inde/India Mr. Hemant G. CONTRACTOR +91 11 268 97 937 Chairman +91 11 268 97 938 Pension Fund Regulatory and [email protected] Development Authority 1st Floor, Icadr Bldg, Plot No. 6 Vasant Kunj Institutional Area 110 070 New Delhi India
Indonésie/Indonesia Mr. Hari GAMAWAN +62 21 3858001 Head of Division, Pension Funds +62 21 3509119 Supervision [email protected] Pension Funds Supervision Indonesia Financial Services Authority (OJK) Gedung Sumitro Djojohadikusumo Lt. 15, Jl. Lap. banteng Timur 2-4 10710 Jakarta Pusat Indonesia
Indonésie/Indonesia Mr. Fitrah SYAWAL +62 21 3858001 Subdivision Head +62 21 3509119 Pension Funds Supervision Indonesia Financial Services Authority (OJK) Gedung Sumitro Djojohadikusumo Lt. 15, Jl. Lap. banteng Timur 2-4 10710 Jakarta Pusat Indonesia
Albanie/Albania Mr. Lusjana LLOJI +355 42 250 686 Legal Councillor, Legal +355 42 250 686 Department [email protected] Financial Supervisory Authority of Albania Dora D'Istria N°10 Tirana Albania
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Albanie/Albania Ms. Enkeleda SHEHI + 355 4 2250686 Chairperson + 355 4 2250686 Albanian Financial Supervisory [email protected] Authority Rruga : "Dora D’Istria”. No. 10 P.O.Box 8363 Tirana Albania
Botswana Mr. Abisha NDORO Non –Bank Financial Institutions Regulatory Authority (NBFIRA), Botswana 3rd Floor, Exponential Building, Plot No 54351,New CBD, Private Bag 00314 Gaborone Botswana
Botswana Ms. Bopelokgale SOKO Deputy Director Retirement Funds Non –Bank Financial Institutions [email protected] Regulatory Authority (NBFIRA), Botswana 3rd Floor, Exponential Building, Plot No 54351,New CBD, Private Bag 00314 Gaborone Botswana
Ex-République Mr. Ilir ADEMI +389 712 16505 yougoslave de Head of Financial Control Macédoine/Former Department [email protected] Yugoslav Republic of Financial control department Macedonia Agency for Supervision of Fully Funded Pension Insurance (MAPAS) Stiv Naumov,100 1000 Skopje,FYROM 1000 Skopje
Ex-République Mr. Milenko GJOSHEVSKI + 389 71 332 876 yougoslave de Financial Control Advisor Macédoine/Former Financial control [email protected] Yugoslav Republic of Agency for Supervision of Fully Macedonia Funded Pension Insurance (MAPAS) st. Stiv Naumov br. 100 1000 Skopje Former Yugoslav Republic of Macedonia
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Hong Kong, Mr. Franco AU +852 2292 1363 Chine/Hong Kong, Senior Manager (Investment China Compliance) [email protected] Investment Compliance Mandatory Provident Fund Schemes Authority (MPFA) 23/F Nexxus Building, 41 Connaught Road Central, Hong Kong Hong Kong, China
Hong Kong, Mr. Darren MCSHANE +852 2292 1144 Chine/Hong Kong, Chief Regulation & Policy Officer +852 2259 8828 China and Executive Director [email protected] Mandatory Provident Fund Schemes Authority (MPFA) Level 16, International Commerce Centre 1 Austin Road West, Kowloon Hong Kong Hong Kong, China
Hong Kong, Ms. Stella YIU +852 2292 1530 Chine/Hong Kong, Head (Investment Regulation) +852 2259 8800 China Mandatory Provident Fund [email protected] Schemes Authority (MPFA) Level 16, International Commerce Centre 1 Austin Road West, Kowloon Hong Kong Hong Kong, China
Jamaïque/Jamaica Ms. Sekayi CAMPBELL +876 906 3010 Chief Actuary +876 926 3919 Financial Services Commission [email protected] 39-43 Barbados Avenue 5 Kingston Jamaica
Kenya Dr. Edward ODUNDO +254 202 809105 Chief Executive Officer +254 271 0290 Retirement Benefits Authority [email protected] P.O. Box 57733 00200 Nairobi Kenya
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Namibie/Namibia Miss Erna MOTINGA +264 61 290 5112 General Manager +264 61 290 5157 Research, Policy and Statistics [email protected] Namibia Financial Institutions Supervisory Authority Sanlam Centre, Independence Avenue Windhoek 9000 Windhoek Namibia
Nigéria/Nigeria Mrs. Chinelo ANOHU-AMAZU +234 9 461 0466-8 Acting Director-General +234 9 413 3363 National Pension Commission [email protected] 174, Adetokunbo Ademola Crescent Wuse II Abuja Nigeria
Ouganda/Uganda Mr. David BONYI +256 414 232 571 Chief Executive Officer +256 414 230 163 Uganda Retirement Benefits [email protected] Regulatory Authority (URBRA) 6th Floor Communications House Plot 1, Colville Street P.O.Box 7561 Kampala Uganda
Pérou/Peru Mr. Michel CANTA +511 6309059 Deputy Superintendent of Private +511 6309228 Pension Funds and Insurance [email protected] Companies Superintendencia Adjunta de AFPs y Seguros Superintendence of Banking, Insurance and Pension Funds Administrators Calle Los Cedros 269 27 Lima Peru
Pérou/Peru Mr. Elio SANCHEZ +51 1 630 90 60 Head, Pension Institutions +51 1 630 92 28 Supervision [email protected] Superintendence of Banking, Insurance and Pension Funds Administrators Calle los Cedros 269, San Isidro Lima Peru
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Roumanie/Romania Mr. Ion GIURESCU Vice-President Financial Supervisory Authority [email protected] Bucharest Romania
Roumanie/Romania Mr. Liviu-Iulian IONESCU +40 21 6596.124 Head of Prudential Supervision +40 21 6596.255 Unit [email protected] Prudential Supervision Unit, Supervision Directorate - Private Pensions System Sector Financial Supervisory Authority (A.S.F.) Splaiul Independentei No. 15, 5th District, 050092, 050092 Bucharest Romania
Roumanie/Romania Mr. Mircea OANCEA +40 73 66 19 341 CEO +40 21 31 14 766 Private Pension System Rights [email protected] Guarantee Fund Calea Plevnei, nr. 139, bl. B, et. 1, cam. 13, Sector 6 060011 Bucharest Romania
Comité consultatif Mr. Nicolo' BRIGNOLI économique et Policy Advisor Pensions industriel Insurance Europe [email protected] (BIAC)/Business and Industry Advisory Committee (BIAC)
Comité consultatif Ms. Séverine FÉRAUD économique et Senior Adviser industriel Confederation of German (BIAC)/Business and Employers (BDA) Industry Advisory Committee (BIAC)
Comité consultatif Mr. Ap FRATERMAN +31 70 349 0224 économique et Pensions Department industriel Confederation of Netherlands [email protected] (BIAC)/Business and Industry and Employers VNO-NCW Industry Advisory Postbus 93002 Committee (BIAC) 2509 AA The Hague Netherlands
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Comité consultatif Mr. Hans GIDHAGEN +46 855 34 3146 économique et Senior Advisor in Pensions, +46 855 34 3182 industriel Confederation of Swedish [email protected] (BIAC)/Business and Enterprise Industry Advisory BIAC (Business and Industry Committee (BIAC) Advisory Committee) SE11482 Stockholm Sweden
Comité consultatif Miss Michelle MARSHALIAN +33 1 85 55 64 08 économique et Policy Analyst industriel BIAC (Business and Industry [email protected] (BIAC)/Business and Advisory Committee) Industry Advisory Annexe Monaco 207 Committee (BIAC) 2 rue André-Pascal 75016 Paris France
Commission syndicale Mr. David BOYS consultative Deputy General Secretary (TUAC)/Trade Union PSI - Public Services International [email protected] Advisory Committee (TUAC)
Commission syndicale Mrs. Claire FALCETTA +33 1 01 40 52 83 01 consultative Assistante confédérale +33 1 01 40 52 84 33 (TUAC)/Trade Union FO - Force Ouvrière [email protected] Advisory Committee 141 avenue du Maine (TUAC) 75680 PARIS CEDEX 14 France
Commission syndicale Ms. Sophie FONTAINE-BEGIN consultative Conseillère syndicale (TUAC)/Trade Union Confédération des Syndicates Advisory Committee Nationaux - CSN (TUAC)
Commission syndicale Mr. Pierre HABBARD +33 1 55 37 37 38 consultative Senior Policy Adviser +33 1 47 54 98 28 (TUAC)/Trade Union TUAC [email protected] Advisory Committee 15, rue Lapérouse (TUAC) 75016 Paris France
Commission syndicale Mrs. Nathalie JONCAS +1 514 529 4985 consultative Actuaire (TUAC)/Trade Union Confédération des Syndicates [email protected] Advisory Committee Nationaux - CSN (TUAC) Canada
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Commission syndicale Ms. Lena ORPANA +46 704 819107 consultative TCO (TUAC)/Trade Union Linnegatan 14 [email protected] Advisory Committee S11494 Stockholm (TUAC) Sweden
Commission syndicale Mr. Rui RISO +351 91238 7419 consultative Président du Syndicat du Secteur (TUAC)/Trade Union Bancaire – SBSI [email protected] Advisory Committee Secrétariat National de l’Union (TUAC) Générale des Travailleurs du Portugal – UGT-P RUA SAO JOSE, 131 1169-046 LISBOA Portugal
Commission syndicale Mr. Vit SAMEK consultative Vice-President (TUAC)/Trade Union CMKOS - Czech-Moravian [email protected] Advisory Committee Confederation of Trade Unions (TUAC) W. Churchilla 2 113 59 Pragua Czech Republic
Commission syndicale Mr. George Henry STRAUSS consultative Executive member (TUAC)/Trade Union UTATU SARWHU - FEDUSA [email protected] Advisory Committee P.O. Box 7779, (TUAC) 1734 Westgate South Africa
Commission syndicale Ms. Kasey VOSBURG consultative Intern (TUAC)/Trade Union TUAC - Trade Union Advisory [email protected] Advisory Committee Committee to the OECD (TUAC) 15 rue Lapérouse 75016 Paris France
Association Mr. Simon BRIMBLECOMBE +41 22 799 6523 internationale de la Project Coordinator +41 22 799 8509 sécurité sociale Social Security Policy Analysis & [email protected] (AISS)/International Research Social Security International Labour Organization Association (ISSA) (ILO) 4 route des Morillons 1211 Geneva Switzerland
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Association Mrs. Catherine LEZON +41 61 280 8919 internationale des Deputy Secretary General + 41 61 280 9151 contrôleurs d'assurance International Association of [email protected] (AICA)/International Insurance Supervisors (IAIS) Association of Switzerland Insurance Supervisors IAIS c/o BIS (IAIS) Centralbahnplatz 2 CH-4054 Basel Switzerland
Banque Ms. Alison HARWOOD mondiale/World Bank Global Practices Manager Capital Markets, Pensions, [email protected] Insurance and Investment Funds World Bank Group 2121 Pennsylvania Avenue NW Washington DC 20433 United States
Banque Ms. Fiona STEWART +1 202 458 7040 mondiale/World Bank Sr. Financial Sector Specialist Global Capital Markets – Nonbank [email protected] Financial Institutions The World Bank 1818 H Street, NW DC 20433 Washington United States
Allianz Asset Ms. Brigitte MIKSA +49 89 12207478 Management AG Head of International Pensions Allianz Asset Management AG [email protected]
IAA - Federation of Mr. Esko KIVISAARI +358 20 793 42 20 Finnish Financial Chair of the Pensions and +358 20 793 42 02 services Employee Benefits Committee - [email protected] Deputy Managing Director IAA - Federation of Finnish Financial services Bulevardi 28 FI-00120 Helsinki Finland
International Actuarial Mr. Thomas TERRY Association Pensions and Employee Benefits Committee [email protected] International Actuarial Association 445 E. Illinois Street, Suite 330 60611 Chicago United States
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Pensions Europe Mr. Thomas MONTCOURRIER +32 2 289 14 14 (European Federation Economic Advisor +32 2 289 14 15 for Retirement Pensions Europe (European [email protected] Provision - EFRP) Federation for Retirement Provision - EFRP) Koningsstraat 97 Rue Royale 1000 Brussels Belgium
ProVida AFP Mrs. Soledad HORMAZÁBAL +562 235 11144 ProVida AFP Pedro de Valdivia 100 piso 9 [email protected] Providencia, Santiago, Chile Santiago Chile
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