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The MPFA is pleased about the approval of the governing members of the International Organisation of Pension Supervisors (IOPS) and is honoured to join its Executive Committee as a member for a term of two years, starting from 1 January 2020.

The IOPS, which is the standard-setting body for pension supervisory issues, was founded in 2004 with the objective of improving the quality and effectiveness of the supervision of private pensions systems around the world. With 87 members and observers from 77 countries and territories, the IOPS co-operates closely with other international organizations involved in pension supervision, policy development and dialogue, such as the Organisation for Economic Co-operation and Development and the World Bank.

At the Annual General Meeting of the IOPS held in Albania on 7 November 2019, the MPFA was approved as an Executive Committee member which will serve in 2020-2021. The duties of Executive Committee members include preparing the biennial programme of work to be performed by the IOPS, the annual budget, expense reports and annual report; appointing the Chairperson and Vice-Chairperson of the Technical Committee, sub-committees and other working groups; and reviewing recommendations submitted by the Technical Committee; etc.

An MPFA spokesperson said the IOPS is a high level organisation for private pension supervisors to exchange experience and establish supervisory standards. The IOPS platform keeps MPFA abreast of the latest developments of private pension systems all over the world, helping MPFA to improve the MPF System in Hong Kong continuously for better retirement protection of scheme members.

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20 November 2019