ASIATODAY.ID, BALI – The Financial Services Authority (OJK) of the Republic of Indonesia has been elected as a member of the Executive Committee of the International Organization of Pension Supervisors (IOPS) for the 2025-2026 period.
This decision was announced at the IOPS Annual General Meeting (AGM) which took place in Bali, Tuesday, November 19 2024. This decision was made after nominations and voting by IOPS members.
Chief Executive of the Indonesian OJK Insurance, Guarantee and Pension Fund Supervisor, Ogi Prastomiyono, said that the election of OJK as a member of the IOPS Executive Committee marks Indonesia’s commitment to be more active in formulating inclusive and sustainable global pension fund policies.
“Indonesia is ready to provide a new perspective in world pension fund policy. We believe that collaboration between IOPS member countries will be an important step in overcoming global challenges and strengthening the pension fund industry and system in each country,” said Ogi in Bali, as quoted in the broadcast press, Wednesday, November 20 2024.
Ogi said that OJK would take advantage of this momentum by learning from best practices carried out internationally and contributing to innovative solutions to global challenges.
In the election of Executive Committee members carried out by IOPS, apart from Indonesia which was represented by OJK, there were several other members who were elected, so that the new Executive Committee members for the 2025-2026 period include:
(1) Financial Services Authority (OJK), Indonesia, (2) Australian Prudential Regulation Authority (APRA), Australia, (3) Brazilian Pension Funds Authority (PREVIC), Brazil, (4) Croatian Financial Services Supervisory Agency (HANFA), Croatia, (5) Federal Financial Supervisory Authority (BaFin), Germany, (6) Pension Fund Regulatory and Development Authority (PFRDA), India, (7) National Commission of the Retirement Savings System (CONSAR), Mexico, (8) National Bank of Slovakia, Slovakia.
The IOPS Annual General Meeting (AGM) also announced the election of Astrid Ludin from South Africa’s Financial Sector Conduct Authority (FSCA) as President of IOPS for the same period, while Angela Mazerolle from the Canadian Association of Pension Supervisory Authorities (CAPSA) Canada was elected as Vice President.
According to Ogi, Indonesia’s membership in the IOPS Executive Committee is not only an award for OJK, but also as proof of Indonesia’s contribution on an international scale.
“OJK’s involvement in the IOPS Executive Committee will strengthen the supervisory capacity of national pension funds and create opportunities to contribute to the development of more progressive and relevant global policies,” he concluded.
For your information, IOPS is an international organization that brings together pension fund supervisors from various countries. This organization was founded in 2004. IOPS was formed on the initiative of the Organization for Economic Co-operation and Development (OECD) and the International Network of Pension Regulators and Supervisors (INPRS). Currently, IOPS has 92 members and observers representing pension fund regulatory bodies from 84 jurisdictions and territories around the world.
Meanwhile, Indonesia has joined as a member of IOPS since the supervision of pension funds was under the Ministry of Finance, which was then transferred to the OJK in line with the transfer of authority to supervise pension funds. (AT Network)
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