Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has rejoined the International Organization of Pensions Supervisors (IOPS) as a governing member, reaffirming its commitment to strengthening the pension sector in the country. This renewed membership underscores the Pakistan Securities and Exchange Commission’s focus on adopting global best practices to strengthen retirement income systems in Pakistan.
The SEC played an important role as a founding member of IOPS from its inception in 2004 through 2016, contributing to the organization’s efforts to promote effective oversight of private retirement systems. Its decision to return to the IOPS fold comes at a critical juncture, as Pakistan transitions to defined contribution pension plans in the public sector, necessitating improved management and technical expertise.
As a conservative member, the Securities and Exchange Commission of Pakistan will benefit from a collaborative platform of 79 jurisdictions. This global engagement is expected to help the SEC implement progressive pension guidelines, strengthen fund administration, and build institutional capacity for effective oversight. Membership also enables Pakistan’s voluntary retirement system to comply with international standards, enhance investor confidence and attract new investments to the sector.
The re-participation coincides with ongoing pension reforms at the federal and regional levels, as innovative pension schemes in the capital gain momentum under the voluntary pension system. With its membership restored, the SEC is positioned to lead efforts to enhance transparency and collaboration among stakeholders and develop a safe and sustainable pension system.
This important step reflects the SEC’s dedication to ensuring financial security for retirees while contributing to the long-term economic stability and resilience of Pakistan.