Member Profile

TIBOR PARNICZKY is a senior expert of pension system development, with wide range of experience in public and private pension regulation and supervision and employee benefits. He has gained his key experience of pension reforms, regulation and supervision as one of the main architects of the Hungarian pension reform during the wake of the world-wide old age crisis. Hungary was the first country to introduce a structural pension reform among the Central, South, and East European countries. He was responsible for the development, regulation and supervision of the funded pension pillars. The implementation included system development, legislation, as well as liaising with stakeholders, public information campaign and international organizations. He was become a leader of the Supervisory Authority of the Pension and mutual Funds, and participated in the merger to the consolidated Financial Supervisory Authority of Hungary. He also has civil service experience with the Ministry for National Economy in budgeting and monitoring the social security pension fund (State Treasury and National Administration of the National Pension Insurance). He has been representing Hungary on committees, task forces and working groups of the OECD and the EU and international actuarial organizations (EU and world-wide). He was the initiator and founder of the International Organization of Pension Supervisors. Using his own experiences and international relations Tibor has gained a wide consulting experience. He worked on a common project of the USAID Partners for Financial Stability program and the OECD, covering countries from the Baltic region, Central Europe and Republics of the former Yugoslavia. His task was to liaise with governments and donor organizations, implement research and training programs, collect, analyze and disseminate best practices. His other consulting practice has covered Mongolia, Ukraine, Russia, East Africa, Moldova, Macedonia, and Kosovo. At Hewitt Associates (now Aon), the global HR and Employee Benefit consulting firm he was involved in international, or rather multinational pension and employee benefit projects. He graduated in mathematics at Eötvös Lóránd University and economics at Budapest Economics University (Hungary), and got actuarial training in program of the City University of London (UK) and the Economic University (Hungary). Based on his actuarial background he also studied risk management and related issues of other financial sectors, and now he is a guest lecturer of the Budapest Economic University. He is a delegate to the International Actuarial Association and the Actuarial Association of Europe and member of the Actuarial Committee of the Joint Staff Pension Fund of the United Nations (UNJSPF).