During 2004-05, the Department of Economic Affairs (DEA), Ministry of Finance appointed IIEF as its consultant for pension reforms and NPS implementation. This consulting assignment was funded through The World Bank's IDF Grant.

During this period, IIEF provided dedicated research and technical assistance to the DEA in drafting policies related to the legislative, policy, regulatory and institutional architecture of the New Pension System (NPS) and relevant system implementation issues. IIEF assisted the DEA and the Interim PFRDA in drafting the consultative papers related to the process engineering of the NPS, as well as operations, eligibility criteria and selection of the CRA, PFMs and POPs. These papers were circulated for public comments, and reviewed by the DEA during this period.

IIEF also developed a software tool for administering web-based surveys on members, P&AOs and non-civil departments covered by the NPS. This survey tool was meant to assist the DEA, CGA and other Departments in analyzing member understanding of NPS rules and benefits, as well as for capturing information on compliance related to issuance of unique IDs, deduction and transfer of monthly NPS contributions and information to the CPAO.

Consultative Policy Papers on NPS

Policy options, operations, eligibility criteria & registration of POPs (December 29, 2004)   The success of the NPS in providing broad-based access to retirement savings and in achieving coverage will depend on a nationwide service delivery infrastructure. In order to lower the costs of access and service   Download PDF (Filesize: 370 kb ) delivery under NPS for the public, the existing network of non-proprietary, third-party distributors including banks, postal branches and depository participants will be harnessed into the NPS to serve as points of presence (POPs). This consultative paper produced by IIEF for the Department of Economic Affairs and FRDA outlines the policy choices related to POPs, their eligibility criteria and functional obligations.

Outline of the Operational framework and selection process for Pension Fund Managers (April 19,2004)   The Ministry of Finance and the PFRDA are evaluating the policy and operational framework of the new pension system. This paper is the second of a series of consultative papers on implementing the New pen-   Download PDF (Filesize: 172 kb ) sion System (NPS). This paper outlines the operational framework andselection process for Pension Fund Managers

Administrative Arrangements for Centralized Recordkeeping of Personal Retirement Accounts   The Ministry of Finance and the PFRDA are presently evaluating the policy and operational framework of the new pension system. This paper is the first of a series of consultative papers on implementing the new pension   Download PDF (Filesize: 435 kb ) system. This paper outlines the operational and functional obligations, as well as the selection process for the CRA.