OREANDA-NEWS. The IOPS Executive Committee has approved the application of the Bank of Russia to join the International Organisation of Pension Supervisors (IOPS) as a Governing Member.

As a Governing Member to the IOPS the Bank of Russia is now entitled to participate in the development of international standards on pension supervisory issues, to take part in the international information exchange, to explore best practices in the field of pension supervision, and to have access to the IOPS conducted research.

The IOPS was formed in July 2004 at the initiative of the Organisation for Economic Co-operation and Development (OECD) and the International Network of Pension Regulators and Supervisors (INPRS) as an independent international standard-setting body, promoting good practices in pension supervision.

Pension supervisors from 76 countries, including those of the European Union, Brazil, India, China, South Africa and others are members of the IOPS.