Milestones
A Dignified Retirement for the Working Poor: Compulsions and Strategies for Scaling up the Micro-Pension® Model
(4 February, 2010)
Hosted by ISMW, SEWA and IIMPS, and sponsored by Citi Financials, the workshop was conducted in Ahmadabad
| Agenda |
UNDP-IIMPS National Policy Workshop on Co-contributory Pensions for low income workers
(December 5, 2009)
| Report |
Participants: Government of India (Ministries of Finance & Agriculture); State Governments (Bihar, Chhattisgarh, Haryana, Jharkhand, Kerala, Madhya Pradesh, Orissa, Punjab, Rajasthan & Uttar Pradesh); Banks (Bank of India, Shri Mahila Sewa Sahakari Bank, SBI); Consultative Group to Assist the Poor (CGAP); India Development Foundation (IDF); Invest India Economic Foundation (IIEF); Sewa Bharat; UTI Retirement Solutions
Launch of Micro-Pension for Delhi Auto-Rickshaw drivers
(November 9, 2009)
There are over 85,000 Auto Rickshaw drivers in Delhi who do not have access to any pension arrangements. Invest India Micro Pension Services (IIMPS), UTI AMC and Nyayabhoomi launch a unique pension scheme for Auto-Rickshaw drivers in Delhi under the micro pension model developed by IIMPS. This unique initiative shall seek to provide pension services to all these auto drivers.
- Nyaya Bhoomi and IIMPS will jointly enrol autorickshaw drivers for this Scheme.
Pension Literacy Week at Sewa Bank, Ahmedabad
(September, 2009)
This was a unique endeavour by Sewa Bank, Ahmedabad in collaboration with IIMPS and UTI to promote Micro Pension for the informal sector. This included inauguration by UK Sinha, Chairman of UTI MF, Manav Saakaar (human chain), street plays and other cultural events to promote savings for retirement.
IIMPS and UTI AMC formalised a new strategic alliance with the BASIX Group
(April, 2009)
Under this partnership, IIMPS will use its proprietary Micro-Pension Model to deliver the UTI-Retirement Benefit Pension Fund (UTI-RBPF) to BASIX customers. In 2009-10, this partnership will target 700,000 working poor, most of whom are women living in 10,000 villages of Andhra Pradesh, Karnataka, Bihar, Orissa, Jharkhand, Maharashtra, Madhya Pradesh, Tamilnadu, Rajasthan, Chattisgarh, West Bengal, Delhi, Uttarakhand, Sikkim and Assam.
Important achievements in March 2009
* IIMPS coverage under Rajasthan Government Vishwakarma Co-contribution Pension Scheme crosses 30,000 members. The scheme has benefited workers in the unorganised sector in Rajasthan in 20 specified occupation categories which include Rickshaw pullers, Cobblers, Blacksmiths, Hair Dressers, Domestic help, Street vendors, Construction worker, Stone carving workers, Pottery workers, Beedi workers, Porters and Taxi drivers.
* IIMPS and National Association of Street Vendors of India have joined hands to provide micro pension services to over 300,000 street vendors across India. The scheme is being implemented in National Capital Region and shall be implemented across the country over the next few months.
* IIMPS and NIDAN entered into partnership to provide micro pension services to low income workers in Bihar. The services are being launched in Patna and shall be taken to all other major districts in Bihar during 2009-10.
Funding agreement with Kfw... IIMPS in Seoul for modelling regional pension systems
(November, 2008)
- IIMPS represents India at the expert meeting on modelling regional pension systems at Seoul, Korea hosted by the Joint OECD/ Korea Regional Centre on Health and Social Policy (RCHSP).
- The German Development Bank KfW and IIMPS sign a funding agreement for a grant to be used for scaling up the sCube Platform capacity and for producing a range of financial literacy tools targeting the poor.
Collaborations & Partnerships forged in October, 2008
* IIMPS collaborates with the India Development Foundation and IIMS Dataworks to set up the Consumer Research Centre for Financial Inclusion aimed at fostering a broad-based consensus on issues of financial inclusion.
- The Centre will assist in producing appropriate public policies, regulatory response and business strategies for improving access to financial services by India's low income workforce.
* IIMPS partners with a consulting consortium selected by the Asian Development Bank (ADB) to provide policy consulting services to the Indian Government and PFRDA on extending NPS to informal sector workers.
* IIMPS agrees to participate as a founding member of the National Alliance for Financial Literacy established by SEWA, FWWB and ISMW.
Development of sCube
(July 2008)
IIMPS invites Expression of Interests (EOIs) from IT firms for development of its Scalable Social Security (sCube) Platform to be funded by KfW.
UTI AMC equity in IIMPS... Pension reforms for low-income workers in Asia & Pacific
(June, 2008)
- UTI Asset Management Company (AMC) acquires an equity stake in IIMPS.
- IIMPS presents “Innovations in pension reforms for low-income workers” at the conference on Pension reforms in Asia and the Pacific held in Seoul, Korea, hosted by the Joint OECD/Korea Regional Centre on Health and Social Policy (RCHSP).
8th Annual IIEF Pension Policy Conference and Roundtable, 2008
(May 1, 2008)
IIMPS co-sponsors the 8th annual IIEF Pension Policy Conference and Roundtable