Pensions and Retirement Training Course on Portability and Transfers

Module 1: Introduction to Pension Portability and Transfers
Concepts of portability, preservation, and vesting rights
The need for portability in modern labor markets
Key differences between Defined Benefit (DB) and Defined Contribution (DC) transferability
Impact of mobility trends and gig economy participation on pension systems
Global best practices in pension portability (EU, OECD, Africa, and Asia)
Case study: The EU IORP II directive and cross-border pension rights

Module 2: Regulatory and Policy Frameworks
National laws governing transfers and portability
Regulatory standards and supervisory guidelines
Employer and employee rights during transfers
Cross-border pension agreements and social security coordination
The role of international organizations (OECD, ILO, ISSA)
Workshop: Mapping regulatory compliance requirements for transfers

Module 3: Actuarial and Financial Considerations
Calculating transfer values for DB and DC schemes
Discount rates, mortality assumptions, and funding status adjustments
Managing solvency implications and actuarial fairness
Assessing the impact of transfers on plan funding ratios
Managing liquidity requirements during large-scale transfers
Exercise: Comparing transfer valuation techniques under different funding methods

Module 4: Operational and Administrative Processes
Step-by-step transfer procedures: initiation, verification, and settlement
Data exchange and reconciliation between transferring and receiving schemes
Ensuring data privacy and cybersecurity in digital transfers
Communication protocols and timelines for members
Handling errors, disputes, and delayed transfers
Simulation: Designing a standard operating procedure (SOP) for pension transfers

Module 5: Cross-Border Portability and Emerging Trends
Challenges in international transfers and currency management
Taxation of cross-border benefits and double taxation treaties
Bilateral and regional pension portability agreements
Digital innovations: blockchain for secure data sharing and transfer validation
Future directions: global pension passports and regional harmonization
Capstone project: Drafting a policy brief on enhancing pension portability in a regional context