The Organization for Economic Co-operation and Development has published new pension fund governance guidelines for public comment.

The draft guidelines are intended to help pensions regulators and supervisory authorities improve pension fund governance.

The guidelines were first issued in 2005, but they have now been revised to strengthen the requirements of good governance.

The new issues covered by the revised guidelines include the need for balanced representation on pension fund boards, a demand for greater expertise among board members and risk-based governance structures and mechanisms, the OECD reports.

The deadline for comments is Oct. 1.