As more and more people invest in private pensions, funds must be managed well and transparently. New OECD guidelines on pension fund asset management aim to meet this need. The guidelines mark an initiative by OECD countries to set international standards for the oversight and day-to-day management of pension fund investments. They simultaneously call on regulators to give pension funds more flexibility in their investment choices and on trustees to be more diligent in monitoring their fund’s investments. More than one million pension funds operate in OECD countries, holding more than USD 16 trillion in assets at the end of 2005. In many countries pension funds are already a central piece in the retirement income system and the trend towards complementing traditional social security schemes with private ones is set to rise.
OECD calls for new approach to managing pension fund assets
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