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
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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
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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
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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
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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
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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
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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
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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
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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
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The World Bank Report No: ISR12997
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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
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