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Design of Pension Reform
Description: The proposed project would finance, the development of a pension reform strategy. This would include; (i) the preparation of a diagnostic, including a legal and instituional analysis of the current pensions system and financial analysis of the pension systems, and (ii) the identification, analysis of options for pension reform, and a recommendation for a strategy for the development and implementation of a reformed pension system that is economically and financially viable and that meets the social needs of the country. If the bank and the country agree on a viable strategy, a second stage of the technical cooperation (TC) would finance the development of a detailed implementation plan, the implementation of which could subsequently be financed by a Bank loan or reimbursable TC operation.
Rational. Surinam's current pension system is a combination of an under-funded public pension system, a largely unsupervised private system, and a non-targeted subsidy for citizens over 60 years old. As such, the system does not effectively meet the financial needs of retired persons, yet it still implies a large fiscal subsidy. The current government considers pension reform a priority, but it has not developed a reform strategy. The proposed program would develop a strategy to discuss with the new government. If pension reform remains a priority of this new government, the analysis could be used to develop a potential pension reform operation.

Project Detail

Country

Suriname

Project Number

SU-T1010

Approval Date

August 1, 2005

Project Status

Closed

Project Type

Technical Cooperation

Sector

SOCIAL INVESTMENT

Subsector

PENSIONS & SOCIAL SECURITY

Lending Instrument

-

Lending Instrument Code

-

Modality

-

Facility Type

-

Environmental Classification

-

Total Cost

USD 222,000.00

Country Counterpart Financing

USD 22,000.00

Original Amount Approved

USD 200,000.00

Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/SF-9322-SU Sovereign Guaranteed USD - United States Dollar Fund for Special Operations Nonreimbursable
Operation Number ATN/SF-9322-SU
  • Lending Type: Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Fund for Special Operations
  • Financial Instrument: Nonreimbursable

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Implementation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-171363792-3449
Technical Cooperation Agreement
Design of Pension Reform Program [578834].DOC
Dec. 31, 1999
English
https://www.iadb.org/document.cfm?id=EZSHARE-171363792-3476
Technical Cooperation Agreement
Design of Pension Reform Program [578835].DOC
Dec. 31, 1999
English
https://www.iadb.org/document.cfm?id=EZSHARE-171363792-3521
Technical Cooperation Agreement
Design of Pension Reform Program [578833].DOC
Dec. 31, 1999
English
Preparation Phase
https://www.iadb.org/document.cfm?id=EZSHARE-1155331739-29
Plan of Operations
Design of Pension Reform Program [570623].PDF
Dec. 31, 1999
English
https://www.iadb.org/document.cfm?id=EZSHARE-1155331739-23
Technical Cooperation Profile
Pension Rform Desing Program [554688].PDF
Dec. 31, 1999
English

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