|Subject Area||Financial Regulation and Supervision|
|Issuing Body||Organisation for Economic Co-operation and Development (OECD)|
|Date of Issuance||5 June 2009|
The Guidelines lay out guidance for the regulation of pension fund governance.
The Guidelines cover various topics including: the division of oversight and operational responsibilities, suitability / fit-and-proper criteria for board members, accountability, transparency/disclosure, internal controls, and the role of actuaries and custodians.
Approved as an OECD Council Recommendation (34 member countries) and endorsed by country observers to the OECD Working Party on Private Pensions (Brazil, India, Russian Federation, and South Africa); they are recognised by EU, IMF and World Bank.
The Guidelines are applicable to OECD countries and to non-OECD that wish to evaluate and improve their policies.