Date Added: Nov 2009
Governance of pension fund management is important as it impacts investment performance and critically determines the success of policies aimed at pre-funding pension liabilities. Internationally accepted standards of governance and fund management have been established by several international organizations and standard setters. These include the International Social Security Association (ISSA), the International Working Group of Sovereign Wealth Funds (IWG-SWF) and the Organization for Economic Cooperation and Development (OECD). While covering a heterogeneous set of entities, these standards and guidelines all highlight the importance of strong governance structures with independence from government interference and high levels of transparency and public accountability.