The World Bank Report No: ISR12997 Implementation Status & Results Maldives Maldives - Pension and Social Protection Administration (P104743) Public Disclosure Copy Operation Name: Maldives - Pension and Social Protection Administration Project Stage: Implementation Seq.No: 8 Status: ARCHIVED Archive Date: 27-Jan-2014 (P104743) Country: Maldives Approval FY: 2009 Product Line: IBRD/IDA Region: SOUTH ASIA Lending Instrument: Specific Investment Loan Implementing Agency(ies): Maldives Pension Administration Office, Ministry of Finance and Treasury, National Social Protection Agency Key Dates Board Approval Date 12-May-2009 Original Closing Date 31-Dec-2012 Planned Mid Term Review Date 20-Feb-2013 Last Archived ISR Date 26-Jun-2013 Effectiveness Date 22-Oct-2009 Revised Closing Date 30-Jun-2015 Actual Mid Term Review Date 17-Mar-2013 Project Development Objectives Project Development Objective (from Project Appraisal Document) Revised PDO: to support the implementation of the National Pension Act, to strengthen institutional capacity of key agencies responsible for implementing the National Pension Act, and to develop the processes and platforms required for the delivery of social protection programs. Has the Project Development Objective been changed since Board Approval of the Project? ● Yes No Component(s) Component Name Component Cost TA and Capacity Building for Implementation of New Pension Program 3.20 Public awareness campaign 0.60 Public Accounting System 2.00 Administration of Health Insurance, Disability and Targeted Assistance 2.00 Pay-out of pension liabilities 8.00 Public Disclosure Copy Overall Ratings Previous Rating Current Rating Progress towards achievement of PDO Satisfactory Satisfactory Overall Implementation Progress (IP) Satisfactory Moderately Satisfactory Overall Risk Rating Moderate Moderate Implementation Status Overview Good progress is being made under the project, as found during the combined Mid-term Review of the project carried out in May and November 2013. The implementation of both Page 1 of 6 The World Bank Report No: ISR12997 the Old Age Basic Pension and the Maldives Retirement Pension Scheme (MRPS) is on track to meet the targets set at the beginning of the project. Furthermore, MRPS is scheduled to expand coverage towards self-employed workers in 2014, which is a significant step towards provision of income security to all Maldivians. Progress under individual project components is essentially on track although there is concern that implementation of activities needs to be accelerated in order to complete the project by the closing date of June 30, 2015. The Bank team agreed with Government on the next steps that need to be taken (as outlined in detail in the mission Aide-Memoire) to complete the project on time and the Public Disclosure Copy project implementation work plan was reviewed and updated for the remainder of the project. The Bank team and the Project Implementation teams will start to jointly review the implementation status on a monthly basis. Locations No Location data has been entered Results Project Development Objective Indicators Indicator Name Core Unit of Measure Baseline Current End Target New Systems under MPAO operational, Text Value None Administration Office (MPAO) Key GoM cash transfers including the establishment of new office of the established (32 staff) and fully administered through MPAO MPAO, governance structures, MIS and functioning under CEO and provisions for outsourcing. Governing Board. All modules except enforcement and grievance are operational. However there are no external Asset managers hired and MPAO does the asset management in-house. Date 31-May-2009 31-Dec-2013 30-Jun-2015 Comments Increased public awareness about the new Text Value none Website is fully operational Significant improvement in pension system and 347 information sessions understanding of pension have been conducted with system. 21,777 people attending sessions Public Disclosure Copy Date 31-May-2009 31-Dec-2013 30-Jun-2015 Comments Generation of payroll data for civil service Text Value None 65% of Male based 100% of GoM agencies in personnel used for assessing mandated organizations Male use HR module for PAS contributions for the new pensions system. Date 31-May-2009 31-Dec-2013 30-Jun-2015 Comments 72 out of 110 agencies in Male Page 2 of 6 The World Bank Report No: ISR12997 Development and implementation of Text Value None System analysis for the health New MIS systems and management information systems and insurance is underway processes fully implemented; processes for targeting, disability relevant staff trained. administration abd health insurance Public Disclosure Copy Date 31-May-2009 31-Dec-2013 30-Jun-2015 Comments Payout of accrued pension rights to public Text Value None Payout of rights of all those Payout of rights of all those sector workers retiring during the project period retired between Oct 2011 - retired between Oct 2013 - Mar 2013 completed. Mar 2014 completed. Date 31-May-2009 31-Dec-2013 30-Jun-2015 Comments Intermediate Results Indicators Indicator Name Core Unit of Measure Baseline Current End Target Key Policy Decisions in MRPS implementation Text Value None Policy decision to enroll self- Decision on (partial) made employed made to cover a outsourcing of asset target of 5,000 by end 2014 management made. Date 31-May-2009 31-Dec-2013 30-Jun-2015 Comments Progress in implementing a new contributory Text Value None 75,602 At least 50,000 retirement program, measured by the number Date 31-May-2009 31-Oct-2013 30-Jun-2015 of accounts opened and maintained by the Comments active accounts newpension authority Progress in implementing a new basic pension Text Value none Payment of basic pension Automatic linkages with other scheme measured by the number of payments made to 15466 beneficiaries programs to improve made and by strengthening the automatic administration of claw-back clawback mechanisms Date 31-May-2009 31-Oct-2013 30-Jun-2015 Comments Regular reporting of contributions and balances Text Value None On-line access to individual to members, including recognition bonds (RB) accounts fully implemented Public Disclosure Copy Date 31-May-2009 31-Mar-2013 30-Jun-2015 Comments MPAO has established a service kiosk on its premises so members can check their accounts at any time. Reporting and compliance procedures defined Text Value None Risk based contribution and implemented, including regular monthly payment compliance reporting of basic pension benefits paid and procedures defined and contributions collected implemented Page 3 of 6 The World Bank Report No: ISR12997 Date 31-May-2009 31-Mar-2013 30-Jun-2015 Comments Effective supervision by the CMDA of the Text Value none Framework for new Public Disclosure Copy pension program administration and framework investment instruments for new investment instruments designed and implemented Date 31-May-2009 31-Mar-2013 30-Jun-2015 Comments Development and implementation of new Text Value None Annuitization fully process for annuitization in MRPS. implemented according to the rules. Date 31-May-2009 31-Mar-2013 30-Jun-2015 Comments Assessment of options for determination of Text Value None Disability administration disability and required systems provisions fully implemented; relevant staff trained. Date 31-May-2009 31-Mar-2013 30-Jun-2015 Comments Definitions for the disabilities have been developed as per the disability act and stakeholder meeting has been conducted. It has been tentatively endorsed. Development of options and piloting of new Text Value None Data collection for approach to targeting of social benefits implementation of targeting system. New targeting system fully implemented. Awareness campaign launched Date 31-May-2009 31-Mar-2013 30-Jun-2015 Comments Direct project beneficiaries Number Value 0.00 92263.00 88000.00 Public Disclosure Copy Date 31-May-2009 31-Mar-2013 30-Jun-2015 Comments Monthly individual payers and contributors Female beneficiaries Percentage Value 0.00 32.00 33.00 Sub Type Supplemental Active beneficiaries of MRPS scheme Number Value 0.00 339.00 1000.00 Sub Type Date 31-May-2009 31-Mar-2013 30-Jun-2015 Page 4 of 6 The World Bank Report No: ISR12997 Breakdown Comments Active recipients in March 2013 Beneficiaries of Basic Pension scheme Number Value 0.00 15435.00 17000.00 Public Disclosure Copy Sub Type Date 31-May-2009 31-Mar-2013 30-Jun-2015 Breakdown Comments Monthly payments provided in March 2013 Contributors of the MRPS scheme Number Value 0.00 69148.00 70000.00 Sub Type Date 31-May-2009 31-Mar-2013 30-Jun-2015 Breakdown Comments contributors of the MPRS scheme in March 2013 Data on Financial Performance (as of 30-Oct-2013) Financial Agreement(s) Key Dates Project Ln/Cr/Tf Status Approval Date Signing Date Effectiveness Date Original Closing Date Revised Closing Date P104743 IDA-46110 Effective 12-May-2009 12-Aug-2009 22-Oct-2009 31-Dec-2012 30-Jun-2015 P104743 IDA-H6940 Effective 02-Jun-2011 07-Aug-2011 03-Nov-2011 30-Jun-2015 30-Jun-2015 Disbursements (in Millions) Project Ln/Cr/Tf Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed P104743 IDA-46110 Effective XDR 2.60 2.60 0.00 2.60 0.00 100.00 P104743 IDA-H6940 Effective XDR 7.60 7.60 0.00 3.48 4.12 46.00 Disbursement Graph Public Disclosure Copy Page 5 of 6 The World Bank Report No: ISR12997 Public Disclosure Copy Key Decisions Regarding Implementation Agreement was reached with the Government with respect to Project Restructuring (as officially requested by the Government on September 18, 2013). The restructuring entails some revisions of indicator targets and a revision of targets under disbursement-linked indicators (DLI) #1 and #3. Specifically, one target is being added under DLI#1 for January 2014 and the remaining two DLI targets under DLI#3 will be replaced with four new targets. In addition, it was agreed that the project will not provide additional support to the GoM’s effort in strengthening the national identification system and build and implement the individual identification mechanisms as the Government has decided to build the new national ID system with its own resources. Restructuring History Level two Approved on 25-Jun-2012 Related Projects Public Disclosure Copy P125700-Maldives - Pension and Social Protection Additional Financing Page 6 of 6