fbpx 49082-001: Strengthening the Pension Fund Industry in the Asia-Pacific Region | Asian Development Bank

Regional: Strengthening the Pension Fund Industry in the Asia-Pacific Region

Sovereign (Public) Project | 49082-001 Status: Closed

The objective of the proposed TA is to further support the gains achieved in Phase 2 by strengthening the region's pension fund institutional platforms and knowledge base. This will be done through a study and more focused dialogue, education, and training on pension fund administration, regulation, and best practices. More specifically, this TA will aim to: i) conduct a Pension Fund Study to deepen our understanding of issues that hamper the existence of a well- regulated and stable pension system in Asia; ii) organize an Asia Dialogue and a series of sub-regional programs to provide a venue to discuss these pension-related issues and link PPI members with DMC pension-related stakeholders; iii) strengthen the capacity of pension fund managers in Asia through continued knowledge sharing and adoption of regional/global best practices; and iv) help pension fund managers diversify their investment portfolios and deepen inter-regional linkages in Asia.

Project Details

Project Officer
James Villafuerte Economic Research and Regional Cooperation Department Request for information
Country
  • Regional
Modality
  • Technical Assistance
Sector
  • Public sector management
 
Project Name Strengthening the Pension Fund Industry in the Asia-Pacific Region
Project Number 49082-001
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8890-REG: Strengthening the Pension Fund Industry in the Asia-Pacific Region
Technical Assistance Special Fund US$ 225,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Public sector management / Social protection initiatives

Gender Equity and Mainstreaming No gender elements
Description The objective of the proposed TA is to further support the gains achieved in Phase 2 by strengthening the region's pension fund institutional platforms and knowledge base. This will be done through a study and more focused dialogue, education, and training on pension fund administration, regulation, and best practices. More specifically, this TA will aim to: i) conduct a Pension Fund Study to deepen our understanding of issues that hamper the existence of a well- regulated and stable pension system in Asia; ii) organize an Asia Dialogue and a series of sub-regional programs to provide a venue to discuss these pension-related issues and link PPI members with DMC pension-related stakeholders; iii) strengthen the capacity of pension fund managers in Asia through continued knowledge sharing and adoption of regional/global best practices; and iv) help pension fund managers diversify their investment portfolios and deepen inter-regional linkages in Asia. A wider participation from developing Asia's pension fund institutions and regulators is likewise envisioned for the Asia Dialogue and sub-regional programs.
Project Rationale and Linkage to Country/Regional Strategy Strengthening pension systems in Asia is a major component of the Asian Development Bank's (ADB) Financial Sector Operational Plan and a part of the financial sector agenda of Strategy 2020. Well-designed, well functioning, and sustainable pension systems will promote inclusive growth by supporting old age income and provide the much-needed social safety net. In many Asian countries, pension systems are still inadequate in terms of both coverage and delivery of stipulated benefits . A number of structural issues such as governance, regulation, and institutional and administrative capacity hinder their development. Pension reforms are needed to expand coverage, diversify funding options, widen the institutional investor base, generate long-term finance, and distribute risk. Good governance practices to strengthen accountability, transparency, and management of stakeholders' interests are also needed to improve the depth, liquidity, and responsiveness of the region's pension systems. ADB can draw from its previous experiences with a few developing member countries and assist in the learning exchange and development of pension systems.
Impact Well-regulated and stable pension systems in selected Asian DMCs
Project Outcome
Description of Outcome Deeper understanding of structural constraints hampering the pension systems; identification of opportunities for diversifying pension fund investments; and deepening inter-regional linkages among Asia's pension funds
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

1. Dissemination of Asian Pension Fund Study

2. Participation of pension fund managers and practitioners in Asia Dialogue and sub-regional meetings

3. Dissemination of knowledge and information related to pension fund systems in the region

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Regional
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design Not applicable
During Project Implementation Pension managers, practitioners, and regulators will be part of the various meetings and Dialogue planned for this TA.
Business Opportunities
Consulting Services The TA will engage a consultant to conduct the Pension Study and hire a firm for the conduct of the Dialogue and regional meetings. The selection will be in accordance with ADB's Guidelines on the Use of Consultants by (2013, as amended from time to time).
Procurement Not applicable
Responsible ADB Officer James Villafuerte
Responsible ADB Department Economic Research and Regional Cooperation Department
Responsible ADB Division ERCI
Executing Agencies
ADB POHQ
Regional
Timetable
Concept Clearance -
Fact Finding -
MRM -
Approval 15 Apr 2015
Last Review Mission -
Last PDS Update 29 Apr 2015

TA 8890-REG

Milestones
Approval Signing Date Effectivity Date Closing
Original Revised Actual
15 Apr 2015 - 15 Apr 2015 30 Apr 2017 30 Jun 2019 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
225,000.00 0.00 0.00 0.00 0.00 0.00 225,000.00 15 Apr 2015 222,146.84

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Related Publications

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Tenders

No tenders for this project were found.

Contracts Awarded

Contract Title Approval Number Contract Date Contractor Contractor Address Executing Agency Contract Description Total Contract Amount (US$) Contract Amount Financed by ADB (US$)
Capacity Development Technical Assistance 8890 27 Aug 2015 Pacific Pension Institute (United States) 465 California Street, Suite 610, San Francisco, California 94104, United States ADB POHQ 101,263.00

Procurement Plan

None currently available.