The IIHF World Junior Championship is an annual event organized by the International Ice Hockey Federation for national under-20 ice hockey teams from around the world. It is traditionally held from late December to the beginning of January. The main tournament features the top ten ranked hockey nations in the world, comprising the "Top Division", from which a world champion is crowned. There are also three lower pools—divisions I, II and III—that each play separate tournaments playing for the right to be promoted to a higher pool with the last place team facing relegation to a lower pool.