SU-T1010 : Design of Pension Reform

Project Description

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.

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* For active and closed projects, the IDB financing at Board approval is shown in US$ millions. This does not reflect any cancellations. For projects in Preparation the amount shown is the Estimated IDB Financing. Approved projects shows either Estimated IDB Financing or Historic Approved amount. The IDB financing for projects in the pipeline is indicative and may be modified during the project preparation.

SU-T1010 : Design of Pension Reform

SU-T1010 : Design of Pension Reform

SU-T1010 : Design of Pension Reform

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SU-T1010 : Design of Pension Reform

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