The core functions of the Authority are:
– Licensing insurance entities (insurance companies, reinsurance companies, reinsurance brokers, brokers, agents and other intermediaries), pension scheme service providers (pension scheme managers, pensions scheme administrators and custodians).
– Registration of occupational pension schemes.
– Prudential regulation and supervision of registered and licensed entities.
– Formulation and enforcement of standards of conduct for the pensions and insurance industries.
– Protecting the interests of pension scheme members and insurance policyholders.
– Advising the Government on pensions matters and insurance of national assets and properties.