The World Bank                                                                                                                                                  Report No: ISR12997


                                                                                                    Implementation Status & Results
                                                                                                             Maldives
                                                                                 Maldives - Pension and Social Protection Administration (P104743)
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                         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
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                         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
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                                                                                                      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
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                                                                                                    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
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                                                                                       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
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                         P125700-Maldives - Pension and Social Protection Additional Financing




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