ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has rejoined the International Organization of Pension Supervisors (IOPS) as a Governing Member, reaffirming its commitment to strengthening the country’s pension sector. This renewed membership emphasizes SECP’s focus on adopting global best practices to enhance retirement income systems in Pakistan.
SECP played a significant role as a founding member of IOPS from its inception in 2004 until 2016, contributing to the organization’s efforts to advance effective oversight of private pension systems. Its decision to return to the IOPS fold comes at a critical juncture, as Pakistan transitions to defined contribution (DC) pension schemes in the public sector, necessitating improved governance and technical expertise.
As a Governing Member, SECP will benefit from a collaborative platform encompassing 79 jurisdictions. This global engagement is expected to help SECP implement progressive pension guidelines, strengthen fund governance, and build institutional capabilities for effective supervision. The membership also enables Pakistan’s voluntary pension system to align with international standards, enhancing investor confidence and attracting new investments into the sector.
The re-engagement coincides with ongoing pension reforms at both federal and provincial levels, where innovative DC pension schemes are gaining traction under the Voluntary Pension System framework. With its membership restored, SECP is positioned to lead efforts in fostering transparency, stakeholder collaboration, and the development of a secure and sustainable pension system.
This milestone move reflects SECP’s dedication to ensuring financial security for retirees while contributing to Pakistan’s long-term economic stability and resilience.
