GLOBAL - The Paris-based Organisation for Economic Co-operation and Development (OECD) is inviting public comment on draft guidelines on the funding of occupational pension schemes.

The OECD is seeking the views of governments, pension supervisors, national pension fund associations, pension consultants, actuaries and providers of pension fund products.

The draft OECD Guidelines on Funding and benefit Security reflect the views of the OECD’s 30 members, plus three other countries - Brazil, Israel and Russia.

The guidelines contain a series of recommendations on how the funding of occupational pension plans, and in particular defined benefit pension schemes, should be regulated.

Issues covered include the funding and valuation of pension plans and how money paid by employees into their company pension scheme should be protected if their employer or the company that finances their pension plan goes bankrupt.

The OECD said the aim of the guidelines was to help governments and regulators improve the way certain types of pension funds are run in order to make workers’ pensions more secure.

The guidelines are the first such standard at the international level, and are part of a broader OECD initiative to restore public confidence in pensions.

“Comment of all sorts are welcome, from a general assessment of only a few lines to detailed point by point remarks,” the OECD said.

Comments should be sent to Sally Day, OECD Financial Affairs Division by September 15, and will be considered at the next meeting of the OECD Working party of Private Pensions.