Mongolia: Strengthening the Pension System
The objective of the TA is to improve the access of households (including the poor) to long-term financial instruments by restructuring the pension system. The TA will review (i) the merits and shortcomings of the current pension system; (ii) the strategies to restructure the said system; (iii) the measures to expand its coverage; (iv) the investment policies and guidelines for the restructured pension fund with analysis of existing problems in the capital markets; and (v) the recommendations on necessary legal amendments to implement the restructuring strategies.
East Asia Department
Request for information
- Technical Assistance
|Project Name||Strengthening the Pension System|
|Project Type / Modality of Assistance||Technical Assistance
|Source of Funding / Amount||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Gender Equity and Mainstreaming
Governance and capacity development
|Sector / Subsector||
Finance / Insurance and contractual savings
|Gender Equity and Mainstreaming||Effective gender mainstreaming|
|Description||The objective of the TA is to improve the access of households (including the poor) to long-term financial instruments by restructuring the pension system. The TA will review (i) the merits and shortcomings of the current pension system; (ii) the strategies to restructure the said system; (iii) the measures to expand its coverage; (iv) the investment policies and guidelines for the restructured pension fund with analysis of existing problems in the capital markets; and (v) the recommendations on necessary legal amendments to implement the restructuring strategies.|
|Project Rationale and Linkage to Country/Regional Strategy||The TA will address the shortcomings indicated in the 2006-2008 Country Strategy and Program for Mongolia (i.e., the lack of appropriate financial instruments) by restructuring the pension fund and developing institutional investors and long-term financial instruments.|
|Description of Outcome|
|Progress Toward Outcome|
|Description of Project Outputs|
|Status of Implementation Progress (Outputs, Activities, and Issues)|
|Summary of Environmental and Social Aspects|
|Stakeholder Communication, Participation, and Consultation|
|During Project Design|
|During Project Implementation|
|Consulting Services||The TA will engage four international consultants for a total of 14 person-months including a (i) pension system expert/team leader (5.0 person-months); (ii) fund management expert (4.5 person-months); (iii) legal expert (2.5 person-months); and (iv) an actuarial expert (2.0 person-months). Four domestic consultants, who will each have background in the aforementioned four areas, will also be recruited for a total of 20 person-months. The consultants will be recruited through their firms and selected under the quality-and-cost-based-selection (QCBS) method using the simplified technical proposal in accordance with ADB's Guidelines on the Use of Consultants and other arrangements satisfactory to ADB on engagement of domestic consultants. Separate budget will be provided to engage resource persons to cover specific areas or to participate in seminars and conferences.|
|Responsible ADB Officer||Zhang, Yuebin|
|Responsible ADB Department||East Asia Department|
|Responsible ADB Division||Public Mgt, Financial Sector and Regional Coop Division, EARD|
Ministry of Finance (formerly Ministry of Finance and Economy)
Mr. Kh. Ragchaa
S.Danzangiin Gudamj 5/1, Zasgiin Gazriin II Bair, Ulaanbaatar 15160 Mongolia
|Concept Clearance||08 Dec 2006|
|Fact Finding||14 Nov 2006 to 17 Nov 2006|
|Approval||20 Dec 2006|
|Last Review Mission||-|
|PDS Creation Date||13 Dec 2006|
|Last PDS Update||19 Aug 2009|
|Approval||Signing Date||Effectivity Date||Closing|
|20 Dec 2006||04 Jan 2007||04 Jan 2007||31 Dec 2007||30 Sep 2009||-|
|Financing Plan/TA Utilization||Cumulative Disbursements|
|150,000.00||500,000.00||120,000.00||0.00||0.00||0.00||770,000.00||07 Sep 2021||566,621.40|
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.
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|Title||Document Type||Document Date|
|Strengthening the Pension System||TA Completion Reports||Jun 2010|
|Strengthening the Pension System (Cofinanced by the Government of Luxembourg)||Consultants' Reports||May 2008|
|Strengthening the Pension System (Cofinanced by the Government of Luxembourg)||Technical Assistance Reports||Dec 2006|
Safeguard Documents See also: Safeguards
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None currently available.
Evaluation Documents See also: Independent Evaluation
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