The world is undergoing dramatic demographic change and ageing populations around the world are forcing governments to redesign their pension systems.

The capital position of the Finnish financial sector has remained sound, despite the deterioration of the operating environment. Solvency weakened slightly in the employee pension and banking sectors, but remained strong. In the non-life and life insurance sectors, solvency improved. Due to the changes in the operating environment, the Financial Supervisory Authority (FIN-FSA) is paying particular attention to the management of credit, market, liquidity and cyber risks, the functioning of risk management and corporate governance, as well as the fulfilment of the disclosure obligation.

Rowanmoor Personal Pensions Limited (RPPL), is a Self-Invested Personal Pension (SIPP) operator authorised and regulated by the FCA. RPPL operates approximately 4,800 pensions, with assets under administration of £1.5bn.

On 21 June 2022, BaFin held its first digital conference on the supervision of IT at insurance undertakings and pension funds, with over 660 participants and many questions in the chat room. The event offered information on current developments regarding information security in the insurance sector and the area of regulation. It also addressed the amendments to BaFin’s Supervisory Requirements for IT in Insurance Undertakings, findings from BaFin’s IT inspections, DORA, and the new reporting requirement for outsourcing.

A recent State-level notice stated that in addition to the five sectors — catering, retailing, tourism and transportation — that have been hardest hit, companies in 12 other sectors will also be allowed to defer pension insurance payments until the end of this year.

Pension money can provide more long-term and stable funds to develop the real economy via capital markets, according to the CSRC.