Pension & Insurance Supervision

The department supervises pension and insurance entities. The supervisory objectives are to:

• Promote safety and soundness of pension and insurance sectors;
• Protect the interests of pension scheme members and beneficiaries, insurance policyholders, and the public in general; and
• Promote financial stability.

The department conducts:

• Prudential supervision of pension funds, insurance companies and reinsurance companies;
• Market conduct supervision of pension services companies, pension administrators, custodians, pension brokers and insurance intermediaries including reinsurance brokers, insurance brokers, insurance agents, insurance claim settling agents, and insurance loss assessors/adjusters; and
• Inspections to enforce employer compliance with Pension Act.

In addition, the department provides alternative redress mechanism for pension complaints.