Editing Pension fund (section)

== Governance ==
Pension funds are important financial institutions which manage the retirement savings of millions. Effective governance in these entities is crucial not only to safeguard these funds but also to ensure that they meet their future obligations to pensioners. The governance structures, strategies, and practices of pension funds significantly influence their stability, performance, and the trust of their stakeholders. Proper governance ensures that decisions are made transparently and that fund managers are accountable to stakeholders, including employees, retirees, and employers.<ref>{{Cite book |last1=Kumar |first1=Rajesh |title=Strategies of banks and other financial institutions: theories and cases |last2=Kumar |first2=B. Rajesh |date=2014 |publisher=Academic Press |isbn=978-0-12-416997-5 |location=Amsterdam; Heidelberg; San Diego, Calif.}}</ref>

According to the OECD Guidelines for Pension Fund Governance, the governance structure should clearly identify and separate operational and oversight responsibilities. Every pension fund should have a governing body, accountable to the pension plan members and beneficiaries. This body is ultimately responsible for ensuring adherence to the terms of the arrangement and the protection of the best interest of plan members and beneficiaries. The governing body should also meet minimum suitability standards to ensure a high level of integrity, competence, experience, and professionalism. Additionally, there should be adequate internal controls in place to ensure compliance with the law.<ref>{{Cite journal |date=2009 |title=OECD Guidelines for Pension Fund Governance |url=https://www.oecd.org/finance/private-pensions/34799965.pdf |journal=OECD}}</ref>