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FSVC’s pension sector programs encompass a broad range of activities at different stages of the reform process - from the initial realization that an existing government scheme cannot be maintained, to the operation of private pension funds. Support has included: policy level strategic advice to senior level government officials evaluating the practical effects of policy alternatives; revisions to laws and regulations; advice on the development of sound operating policies and procedures at nascent regulatory agencies; consultations to develop IT systems and operating structures at government agencies; training in supervision and regulation of public and private funds; portfolio management; methods for collection of contributions; and public information campaigns for diverse audiences.
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FSVC Pension Experience Key Indicators: 1999-2012 |
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| Projects Completed | 58 |
| Number of Countries Trained | 12 |
| Individuals Trained | 519 |
| Pro Bono Hours Delivered | 5,321 |
Countries Served:
Albania, Croatia, Estonia, India, Jordan, Latvia, Lithuania, Macedonia, Morocco, Poland, Romania, and Uganda.
Types of Activities:
- On-site assessments of planned reform programs;
- On-the-job training for examiners of private pension funds
and comprehensive training of supervisory staff on pension system
operations and supervision;
- Technical assistance and training on foreign exchange forwards trading for private pension funds;
- Risk management supervision;
- Study tours, regional training and internships programs to develop pension fund system capacity;
- Seminars on structuring pension funds;
- Formulation of strategic plans to implement pension reform; and
- Creating public information campaign.
- On-the-job training for examiners of private pension funds
and comprehensive training of supervisory staff on pension system
operations and supervision;
- Technical assistance and training on foreign exchange forwards trading for private pension funds;
- Risk management supervision;
- Study tours, regional training and internships programs to develop pension fund system capacity;
- Seminars on structuring pension funds;
- Formulation of strategic plans to implement pension reform; and
- Creating public information campaign.
Our Accomplishments:
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| FSVC Volunteer John Turner (pictured left) in consultations with the Albanian Financial Supervisory Authority. |
In response to the SSIU chairman’s request, FSVC organized a two-day seminar in 2007 to review portfolio management best practices for senior and mid-level managers from various departments dealing with the investment strategy and practices of the SSIU. Participants were provided exposure to international standards in analysis, with the goal of translating the practical presentation into changes in the daily routine of portfolio management at the SSIU. There were 23 participants from the SSIU, coming from 9 separate departments. The project address key aspects of portfolio management from the perspectives of both equity and fixed income analysis in order to strengthen management capacity within the SSIU as well as to improve overall investment results. The SSIU participants received practical instruction on yield-curve analysis, fixed income portfolio analysis, and building and managing equity portfolios that they will now apply in their daily positions, thus integrating international best practices to the management of the SSIU in the short term.
Uganda - Ministry of Finance, Planning and Economic Development (MoFPED) (2005):
In 2005, FSVC hosted a study tour for two officials of the MoFPED. The objective of this program was to provide the Ugandan MoFPED with a detailed understanding of tax and pension reform, policy design and regulation. Particularly, the MoFPED had questions regarding several operational issues that are not properly regulated at present and/or for which there is minimal, if any, practical in-country experience or precedent, including regulation of the tax and pension system, policy design and implementation, tax and contribution collection and record-keeping, and questions related to system operations. The participants met with volunteer experts from the Internal Revenue Service, the US Department of Labor, the World Bank, the US Treasury, and other institutions. This study tour helped both officials to finalize their own proposals to the Ministry of Finance for reform.
