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The Principles cover the necessary requirements for an efficient and effective pension supervisory regime . The IOPS Principles of Private Pension Supervision were first approved in 2006. This document contains the revised Principles, approved in 2010. The Principles outline 10 main areas for effective pension supervision:

  • Objectives: national laws should assign clear and explicit objectives to pension supervisory authorities
  • Independence: pension supervisory authorities should have operational independence
  • Adequate Resources: pension supervisory authorities require adequate financial, human and other resources
  • Adequate Powers: pension supervisory authorities should be endowed with the necessary investigatory and enforcement powers to fulfill their functions and achieve their objectives
  • Risk-based Supervision: pension supervisory authorities should adopt a risk-based approach seek to mitigate the greatest potential risks to the pension system
  • Proportionality and Consistency: pension supervisory authorities should ensure that investigatory and enforcement requirements are proportional to the risks being mitigated and that their actions are consistent
  • Consultation and Cooperation: pension supervisory authorities should consult with the bodies they are overseeing and cooperate with other supervisory authorities domestically and internationally
  • Confidentiality: pension supervisory authorities should treat confidential information appropriately
  • Transparency: pension supervisory authorities should conduct their operations in a transparent manner
  • Governance: the supervisory authority should adhere to its own good governance practices code- including governance codes, internal risk management systems and performance measurement –  and should be accountable.

International Endorsement : As well as being widely adopted and used by IOPS member authorities for the self-assessment purposes of their compliance with the Principles, these Principles have also been incorporated into the OECD Core Principles of Occupational Pension Regulation, were recognised by IAIS and have been used by the IMF and the World Bank in the Financial Sector Assessment Programmes (FSAP)

International Application : 65 countries and territories

Assessment Methodology  

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The assessment methodology provides a structured means of assessing the extent to which a pension supervisory authority complies with the letter and spirit of the IOPS Principles of Private Pension Supervision. The questions and suggested supporting materials allow for a self-assessment vs. the Principles by pension supervisory authorities or an assessment by 3rd parties. It was issued by IOPS in November 2010.