Mongolia : Support for the Establishment of a Supplementary Pension System
Project Details
-
Project Officer
Van Rijn, Johannes Jacobus Frederik
East Asia Department
Request for information -
Country/Economy
Mongolia -
Sector
- Public sector management
| Project Name | Support for the Establishment of a Supplementary Pension System | ||||
| Project Number | 52151-001 | ||||
| Country / Economy | Mongolia |
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| Project Status | Closed | ||||
| Project Type / Modality of Assistance | Technical Assistance |
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| Source of Funding / Amount |
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| Strategic Agendas | Inclusive economic growth |
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| Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Partnerships |
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| Sector / Subsector | Public sector management / Public administration - Social protection initiatives |
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| Gender | Some gender elements | ||||
| Description | |||||
| Project Rationale and Linkage to Country/Regional Strategy | |||||
| Impact | More inclusive and sustainable development process promoted |
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| Project Outcome | |
|---|---|
| Description of Outcome | Legal, regulatory and institutional arrangements for an improved pension system strengthened in Mongolia |
| Progress Toward Outcome | The TA has progressed well - and has now reached the stage where produced outputs are likely to be submitted to the State Great Hural (Parliament). Given the current Covid-19 crisis, it seems unlikely that Parliamentary agendas will not be affected. Following a period of delays caused by Covid19 and the elections, the incoming minister for Labor and Social Protection has confirmed her strong interest in the project (August 2020). The team is currently awaiting the first meeting of the inter-ministerial Working Group, post-election. |
| Implementation Progress | |
| Description of Project Outputs | Legal and regulatory framework for the establishment of a private pension scheme developed Institutional arrangements for systems operation and asset management developed Awareness about new pensions arrangements among government officials, private sector stakeholders, and the public enhanced |
| Status of Implementation Progress (Outputs, Activities, and Issues) | A back to back mission was fielded from 10-14 September 2018 and briefed the executing agency on the status of the technical assistance support: " TA paper was approved on 31 July;" MoU was signed by Ministry of Finance, Financial Regulatory Commission and Ministry of Labour and Social Protection (24 August);" No objection from the Mongolian authorities obtained (24 August);" All international and national consultancy positions have been advertised;" Shortlisting will be done by team-leader and Private Sector Development Specialist, MNRM;" Mission confirmed that a no-objection from the EA for the shortlisted candidates will be obtained; " Inception Workshop tentatively scheduled for week 2, November 2018 (depending on the pace of consultants recruitment);" EA expressed their appreciation for the speed of processing and the communication with the ADB, agreed with the idea of an Inception Workshop and confirmed their availability. Inception workshop was held on 29 January 2019, chaired by MoF and with participation from the two implementing agencies MLSP and FRC, and ADB's support team. Inception meeting basically confirmed the project's understanding in terms of substance and the division of roles and responsibilities between the various stakeholders (albeit that some institutional tension continues to exist between MLSP and FRC)Next step is to start legal drafting, which will be done as part of the mission of the international pension lawyer (25 March - 12 April). The intention is to have a first draft of the law available by July 2019. Following a team mission in May 2019, draft law was prepared and has been discussed with the Working Group, comprising MoF, MLSP and FRC. Comments were provided, and a 2nd and 3rd draft were prepared. In addition, an analysis of the (minimal) fiscal impact of providing tax incentives for private pension fund providers was prepared and also submitted to the Working Group. The Working is expected to reconvene in early October and is expected to provide final feedback then. Next step would be to submit the law to the legislature. On 24 March, the team was informed that MLSP will submit the fourth draft of the law for discussion in Parliament. Given the current Covid-19 crisis, it is unclear at this stage to what extend existing Parliamentary agenda's will be affected. Following a period of delays caused by Covid19 and the elections, the incoming minister for Labour and Social Protection has confirmed her strong interest in the project (August 2020). The team is currently awaiting the first meeting of the inter-ministerial Working Group, post-election. On 26 February 2021, ADB approved an extension request for the TA, on the grounds that implementation was unduly disrupted by COVID-19 and the elections. New closing date: 26 August 2022.As of 20 March 2021, the project team has been assigned by MLSP to produce a 5th draft of the legislation, scheduled to be tabled in Parliament in the 2021 autumn session. The TA activities were completed on 28 August 2022. The financial account closing of the TA is ongoing. |
| Geographical Location | Nation-wide |
| Summary of Environmental and Social Aspects | |
|---|---|
| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | Regular discussion with the executing and implementing agencies. |
| During Project Implementation | Regular discussion with the executing and implementing agencies. |
| Business Opportunities | |
|---|---|
| Consulting Services | The TA will engage international and national consultants following ABD Procurement Policy (2017, as amended from time to time. |
| Procurement | no procurement of goods |
| Responsible ADB Officer | Van Rijn, Johannes Jacobus Frederik |
| Responsible ADB Department | East Asia Department |
| Responsible ADB Division | Public Mgt, Financial Sector and Regional Coop Division, EARD |
| Executing Agencies |
Ministry of Finance (formerly Ministry of Finance and Economy) |
| Timetable | |
|---|---|
| Concept Clearance | 23 May 2018 |
| Fact Finding | 28 May 2018 to 31 May 2018 |
| MRM | - |
| Approval | 30 Jul 2018 |
| Last Review Mission | - |
| Last PDS Update | 27 Sep 2022 |
TA 9551-MON
| Milestones | |||||
|---|---|---|---|---|---|
| Approval | Signing Date | Effectivity Date | Closing | ||
| Original | Revised | Actual | |||
| 30 Jul 2018 | 23 Aug 2018 | 23 Aug 2018 | 28 Feb 2021 | 28 Aug 2022 | 10 Oct 2022 |
| Financing Plan/TA Utilization | Cumulative Disbursements | |||||||
|---|---|---|---|---|---|---|---|---|
| ADB | Cofinancing | Counterpart | Total | Date | Amount | |||
| Gov | Beneficiaries | Project Sponsor | Others | |||||
| 500,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 500,000.00 | 07 Nov 2022 | 377,320.45 |
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 |
|---|---|---|
| Support for the Establishment of a Supplementary Pension System: Technical Assistance Report | Technical Assistance Reports | Jul 2018 |
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
Related Publications
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Tenders
| Tender Title | Type | Status | Posting Date | Deadline |
|---|---|---|---|---|
| National Econometrist | Individual - Consulting | Closed | ||
| National Tax Lawyer | Individual - Consulting | Closed | ||
| National Accountant and/or Management Consultant | Individual - Consulting | Closed | ||
| International Actuarial Specialist | Individual - Consulting | Closed | ||
| International Communication Specialist | Individual - Consulting | Closed | ||
| National Communication Specialist | Individual - Consulting | Closed | ||
| International Pension Policy Specialist | Individual - Consulting | Closed | ||
| International Pension Law Specialist | Individual - Consulting | Closed |
Contracts Awarded
Procurement Plan
None currently available.