Delegates from East Africa convened at the 4th series Pensions Benchmarking Tour in the Netherlands, which included both the annual pension summit and the World Pension Tour. This event served as a vital platform for pension stakeholders to discuss global trends and market developments aimed at improving member outcomes.
Highlights of the Event
- Global Participation: Esteemed thought leaders from around the world participated, enriching discussions with diverse insights on pension systems.
- Focus on the Netherlands: The Netherlands is recognized for its robust pension system, consistently ranked as one of the best globally, making it an ideal location for such discussions. According to the Mercer CFA Institute Global Pension Index 2024, it retained its top position due to strong asset management and regulatory frameworks.
- Collaborative Efforts: The event was graciously hosted by APG Asset Managers and The Netherlands African Business Council (NABC), whose support significantly enhanced the experience and success of the tour.
The summit covered a variety of topics essential for enhancing pension systems, including:
- Social Security Innovations: Emphasis was placed on innovative solutions to emerging challenges in pension management.
- Youth Engagement: Discussions highlighted the importance of fostering a saving culture among younger populations, particularly in Kenya, to ensure future financial security.
- Pension System Reforms: Insights were shared regarding ongoing reforms in various countries, including the Netherlands' transition towards a defined contribution model, which aims to improve sustainability and adequacy of benefits.
The Pensions Benchmarking Tour not only facilitated valuable exchanges among East African delegates but also underscored the need for continuous improvement in pension systems worldwide. The lessons learned are expected to inform strategies that enhance governance, investment practices, and member services in East Africa's pension landscape.