Аgency for Supervision of Fully Funded Pension Insurance held a working meeting with representatives from the National Bank of Slovakia and signed a Memorandum of Cooperation

Within the framework of the planned activities towards the strategic goal of improving capacity for strengthening its supervisory and regulatory role in fully funded pension insurance, the Agency for Supervision of Fully Funded Pension Insurance – MAPAS, on September 11 and 12, 2024, hosted representatives from the National Bank of Slovakia.

The purpose of the visit was the exchange of experiences in the pension sector between Slovak Republic and Republic of North Macedonia, as well as the initiation of cooperation by signing a Memorandum of Cooperation. The Memorandum of Cooperation was signed by the President of the Council of Experts of MAPAS, Maksud Ali, and by the Executive Director of the Supervision and Financial Consumer Protection Division at the National Bank of Slovakia, Julia Čillikova.According to the Memorandum of Cooperation, the contracting parties will exchange experiences in the field of fully funded pension insurance, the operation of pension funds, the mechanisms of supervision of pension funds and the adopted regulation, as well as financial stability and technological innovations in the financial sector. The technical cooperation will consist of the exchange of documents, bilateral assistance for the purpose of the exchange of experience of common interest, as well as cooperation in the field of education, research, training and development processes of common interest.

The signing of the memorandum was preceded by a two-day working meeting where the competences and responsibilities of the two institutions were presented. The discussion was focused on cyber security and digitization in the financial and pension sector, financial education, then the incentives of the country to increase the participation of members in the voluntary pension system, systemic risks and macroprudential policy, as well as experiences related to the process of harmonizing the regulatory framework with EU directives.

MAPAS will further continue to advance the established practice of cooperation in order to maintain successful communication with other supervisory bodies and relevant authorities and institutions in order to contribute to maintaining a stable and transparent fully funded pension insurance and improving the supervision of fully funded pension insurance.