India: Implementing Pension Reforms

Sovereign Project | 39634-012

Summary

The TA will assist the Government in designing and implementing the NPS and a solution providing broad-based old age income security to the civil servants (central and states) and public, especially the informal sector workforce. Building public confidence in the NPS vis-a-vis the current pay-as-you-go scheme is a key to the success of the NPS.

Latest Project Documents


Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.

The Public Communications Policy (PCP) recognizes that transparency and accountability are essential to development effectiveness. It establishes the disclosure requirements for documents and information ADB produces or requires to be produced.

The Accountability Mechanism provides a forum where people adversely affected by ADB-assisted projects can voice and seek solutions to their problems and report alleged noncompliance of ADB's operational policies and procedures.

In preparing any country program or strategy, financing any project, or by making any designation of, or reference to, a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgments as to the legal or other status of any territory or area.

Project Name Implementing Pension Reforms
Project Number 39634-012
Country India
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 4938-IND: Implementing Pension Reforms
Japan Special Fund US$ 1.00 million
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Sector / Subsector Finance - Insurance and contractual savings
Gender Equity and Mainstreaming Effective gender mainstreaming
Description The TA will assist the Government in designing and implementing the NPS and a solution providing broad-based old age income security to the civil servants (central and states) and public, especially the informal sector workforce. Building public confidence in the NPS vis-a-vis the current pay-as-you-go scheme is a key to the success of the NPS.
Project Rationale and Linkage to Country/Regional Strategy The TA will enable the Government and PFRDA to formulate strategies and measurable action plans, and develop and field test pension products, before rolling out the NPS to the formal and informal sectors. The NPS would encourage greater participation from state civil servants and individual pensioners, as well as informal sector workers. The TA will help the Government and PFRDA develop a database to determine the informal sector workers' demand and ability to pay for voluntary retirement contributions, and the nature and the size of the excluded funds.
Impact Public is confident in NPS; Comprehensive old age income security system is sustainable; National capital market enhanced
Project Outcome
Description of Outcome Strategy for rolling out NPS to formal and informal sectors; Establish NPS institutions and quality service networks
Progress Toward Outcome

The consulting firms completed the situation analyses and engaged in promotional activities and interventions in the 2 pilot districts.

NPS has already been implemented in the pilot districts, as well as rolled out nationwide. Promotions and interventions under the TA are detailed in the final report along with voluntary coverage outcomes in the pilot districts.

Implementation Progress
Description of Project Outputs

Cost-effective and sustainable products

New enhanced products

Draft policy and regulations

Status of Implementation Progress (Outputs, Activities, and Issues) Recommendations for cost-effective and sustainable products; new enhanced products; policy and regulations are detailed in the final report prepared under the TA.
Geographical Location India
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services International consultants will comprise a pension system and financial expert (team leader), and a pension product scheme and development expert. The national consultants will comprise (i) pension system expert, (ii) communications and publicity expert, (iii) process and information technology expert, (iv) social sector expert, (v) legal expert, and (vi) pension system and policy expert. The international consulting firm will be recruited using simplified technical proposals under the quality- and cost-based selection method, in accordance with ADB's Guidelines on the Use of Consultants (2007, as amended from time to time).
Procurement n/a
Responsible ADB Officer Shalini Singh
Responsible ADB Department South Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SARD
Executing Agencies
Ministry of Finance (Old) Mr. Chandrasekhar MohapatraDirector, Pension Reforms, Captial Market Division, Department of Economic Affairs, Ministry of Finance
Timetable
Concept Clearance 23 Nov 2005
Fact Finding 04 Sep 2006 to 08 Sep 2006
MRM -
Approval 08 Jun 2007
Last Review Mission -
PDS Creation Date 28 Feb 2006
Last PDS Update 08 Jul 2011

TA 4938-IND

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
08 Jun 2007 24 Jan 2008 24 Jan 2008 31 Dec 2008 30 Sep 2011 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
1,000,000.00 0.00 0.00 0.00 0.00 0.00 1,000,000.00 08 Jun 2007 930,319.46
Title Document Type Document Date
Implementing Pension Reforms TA Completion Reports Sep 2013
Implementing Pension Reforms TA Change in Scope, Amount, and Implementation Arrangements Oct 2007
Implementing Pension Reforms (Financed by the Japan Special Fund) Technical Assistance Reports Jun 2007

Safeguard Documents

See also: Safeguards

No documents found.

Evaluation Documents

See also: Independent Evaluation

No documents found.


The Public Communications Policy (PCP) establishes the disclosure requirements for documents and information ADB produces or requires to be produced in its operations to facilitate stakeholder participation in ADB's decision-making. For more information, refer to the Safeguard Policy Statement, Operations Manual F1, and Operations Manual L3.

Requests for information may also be directed to the InfoUnit.