Ukraine and IOPS discussed returning to full participation in the international pension supervision system

Oleksii Semeniuk, Chairman of the National Securities and Stock Market Commission, held a meeting with representatives of the International Organization of Pension Supervisors (IOPS) — an international organization that brings together pension supervisory authorities from various countries.

The sides discussed the practical steps needed to restore Ukraine’s full participation in the work of IOPS, as well as further cooperation in the area of oversight of non-state pension provision.

For Ukraine, such cooperation is important in the context of developing a voluntary pension savings system and improving the regulation of this market. International experience and IOPS principles can be used to strengthen risk management approaches, protect pension savings, and increase the transparency of non-state pension funds.

“Pension savings are funds that people entrust to the financial system for years to come. Therefore, our task is to create rules and a supervisory framework that will ensure these funds are adequately protected. It is important for us to draw on international experience and gradually restore Ukraine’s full participation in professional dialogue with international partners,” said Oleksii Semeniuk.

The Commission is already working on updating regulations in this area. On 28 August, the draft Law of Ukraine No. 15570 on voluntary pension funds — developed in collaboration with the relevant parliamentary committee — was registered with the Verkhovna Rada of Ukraine. The draft law, in particular, calls for stricter requirements regarding fund management, risk management systems, and the transparency of their operations.

The Commission views the development of voluntary pension provision not merely as a matter of social protection. Pension savings are a long-term financial resource that, with the right safeguards and trust in place, can work simultaneously for the future of citizens and for the development of Ukraine’s economy.

That is precisely why the quality of regulation, transparency, and effective oversight remain key conditions for the development of this market.