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Roundtable session highlights insurance and retirement savings

The Organisation for Economic Co-operation and Development (OECD), Asian Development Bank Institute (ADBI) and the Financial Services Authority (OJK) organised a roundtable conference in Yogyakarta, Indonesia, from July 9 to 10 and discussed insurance and retirement savings issues in the Asian region.

The annual roundtable conference served as a platform for the exchange of information on key developments and challenges faced in the insurance and retirement markets in Asia, as well as for sharing experiences and best practices on policy issues among policymakers, regulators, and private sector participants.

This year’s conference focused on the contribution of the insurance sector to climate resilience and adaptation in response to the implications of climate change on the insurance sector’s business capital, as well as the impact of using digital tools to improve the effectiveness of the retirement savings system and pension schemes.

Policy authorities also discussed the challenges and risks faced in the pension scheme and shared experiences to deal with the issues that have been raised.

Managing Director of the Employees Trust Fund (TAP) Haji Md Adfarul bin Haji Maz Adanan was present as a representative of the Ministry of Finance and Economy, as one of the panellists in the ‘Tour de Table Session: Funded Pension Markets and Regulatory Developments in Asia’.

In the session, he shared the developments regarding the retirement fund policy, which focuses on the National Retirement Scheme (SPK) launched on July 15, 2023. – Azlan Othman

Managing Director of the Employees Trust Fund Haji Md Adfarul bin Haji Maz Adanan with the other panellists. PHOTO: TAP