PENSION PLANS

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Pension Plans

Our main goal is to provide relevant information about your retirement plan.

The provisions of the pension plans are overseen by the Pension Committee, which is chaired by the President of the IDB GRoup and includes executive directors, senior management and elected representatives of active staff and retired participants.

Staff Retirement Plan

The Staff Retirement Plan (SRP) is a qualified pension plan under the U.S. Internal Revenue Service’s code Section 401(a).

Local Retirement Plan

The Local Retirement Plan (LRP) of the IDB is a defined benefit pension plan, which establishes a defined formula to determine each participant’s benefit based on service, compensation, and a benefit accrual factor.

Reforms to the Bank's Retirement Plans: Resolution DE-180/14

The Reforms are classified as (i) changes to Plans’ Governance, and (ii) parametric and technical changes to Pension Plans, with the later primarily impacting new staff hired on or after January 1, 2015. 

Retiree Self-Services

Welcome to Retiree Self-Services!

The RSS is the online tool to help retirees, including surviving beneficiaries, securely use IDB Group (IDBG) services anytime, from anyplace with internet access.

 

What can be found in the Retiree Self-Services?

  • PAYSLIPS
    Retirees can view their most recent payslip on the first day of each month. They can also view their previous payslips anytime!
  • PENSION VERIFICATION LETTER
    Retirees can download and print an official certification of pension in seconds. They no longer have to wait to have it mailed to them!
  • PERSONAL DATA AND BENEFICIARIES INFORMATION
    Retirees can manage their personal data and beneficiary information in real time.
    Check the USER GUIDES for your help
     
    NEED HELP
    EMAIL vpf/srp@iadb.org  | PHONE 202-623-3560 (Monday to Friday, 9:30 am –5:00 pm DC time)
     
     

     

 

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Cost of Living Adjustment

Cost of Living Adjustment (COLA)

The Pension Plans provide for annual Cost of Living Adjustments (COLA) for pensions received by retirees and beneficiaries. The COLA is made effective on January 1st of each year and will be reflected on all pensions.

International Retirees

In accordance with Article 15 of the Staff Retirement Plan (SRP), all pensions and benefits in effect as of December 1, 2018 are eligible for Cost-of-Living Increases.  To this end, the Consumer Price Index for All Urban Consumers (CPI-U), U.S. City Average, All items, with 1982-84 equaling 100, as published by the U.S. Department of Labor for November 2018 was 252.038.  This figure implies an annual rate of 2.177% Cost-of-Living Increase with respect to corresponding CPI-U for November 2017 (246.669). 

This 2.177% annual rate of Cost-of-Living Increase is effective January 1st, 2019.  It is relevant to note that, in compliance with Section 15.1(d) of the SRP, the annual rate of Cost-of-Living Increase was prorated on equal monthly basis for any pensions and benefits that became effective during 2018.

National Retirees

Pensions for national retirees are adjusted to reflect the percentage of increase of the Consumer Price Index (CPI) for each country in a period of twelve months ending in November of the previous year, based on the International Financial Statistics (IFS) published by the International Monetary Fund (IMF), or any other index adopted in its stead as approved by the Managing Committee.

Click here to see the corresponding 2019 general adjustment per country.

 

Forms
  • International Pension Plan

 

 

  • Local Pension Plan

 

 

  • Retiree Life Insurance Program

 

 

Your Pension team