Global Retirement Savings Committee
The goal of the committee is to connect members from different regions (strategists, researchers, lawyers, product developers) to facilitate an exchange of knowledge about pension systems globally and create opportunities of discussion with each other, regulators, international organisations, and other stakeholders in the global retirement savings community. The committee also will work to identify and prioritise short- and long-term priorities for ICI Global in this area.
Activities
- Engagement with the OECD’s Working Party on Private Pensions (a group of national pension regulators from OECD member countries). Regulators closely work with each other and exchange ideas about reforms, and we believe it is critical to represent our industry in this forum. Most recently, for example, we have been weighing in on the WPPP’s projects on tax incentives and fees in defined contribution plans
- Supporting the pan-European Personal Pension Product (PEPP) in Europe
- Advocating for creation of more robust defined contribution systems in Asia, including China, Hong Kong, Japan, the Chinese Taipei, Korea, and Vietnam
- Convening high-level events for pension regulators, other influencers and our industry thought leaders
- Keeping committee members current on trends and developments
Committee Members
Key Issues of Interest
- Changes to retirement systems around the globe, with a focus on changes to defined contribution systems and individual savings vehicles
- Role and opportunities for investment funds in long-term and retirement savings
- Retirement system design, including issues of coverage and saving incentives
- Financial education and advice
- Default investments
- Lifetime income products and solutions
Committee Meetings
To accommodate diverse geographic policy priorities and time zones, the Committee will operate on two tracks (similar to the ICI Global Policy Council) – Atlantic and Pacific, although any committee member may participate in all meetings and calls.
Previous Retirement Events
Periodically, ICI hosts global retirement events, including, previously, conferences in Hong Kong, Beijing, Tokyo, Geneva, and Paris. Information on these prior retirement events, including conference reports, are available at: https://www.ici.org/events/16-conf-global-issues.
To view an OECD launch of the Pension Outlook publication in Washington DC (hosted by ICI) in December 2020, please visit https://www.ici.org/events/20-ici-webinar-1215.
The ICI Global Retirement Resource Center (https://www.ici.org/global_retirement) includes information highlighting the lessons learned from the US retirement system, as well as a brochure on the Japanese retirement system.
Membership Information
We welcome members to have more than one representative to join the committee (e.g., an individual with responsibilities for Europe and an individual with responsibilities for Asia).
Colleague Access
Colleague Access gives committee representatives the ability to designate co-workers (i.e., non‑committee members) to view committee memos and materials online, receive notification of memos addressed to the committee via ICI Digest and participate in committee calls and meetings.
As committees may deal with confidential policy topics involving draft comment letters and conference calls, ICI limits the number of colleagues per firm who can be designated for Colleague Access. Only committee representatives (not alternates or substitutes) can activate Colleague Access, and colleagues must be employed by the committee member’s firm.
There is no limit to the number of individuals the primary Global Retirement Savings Committee member can designate for colleague access.