Côte d’Ivoire : FINACTU supports the CNPS for the establishment of three new pension and retirement schemes
(FINACTU) - The FINACTU Group is pleased to be assisting Côte d'Ivoire’s National Social Security Fund in its project to extend their social security system through the implementation of three new schemes:
- a supplementary pension scheme, funded for its current population of insured persons: employees in the private sector,
- two pension and retirement plans For the self-employed (formal and informal sector):
- a basic scheme including pensions and daily benefits,
- a supplementary funded pension scheme for self-employed persons with a higher contributory capacity.
Through this project, CNPS is positioning itself as a pioneer in sub-Saharan Africa: not only will it soon be the manager of the first capitalization schemes in the CIPRES zone; it also encourages the inclusive development of social welfare by massively expanding its coverage through creating a scheme for non-wage-earners who currently don’t have a social security system. The CNPS, which now covers 700,000 employees in the private sector, will soon cover more than 8 million Ivoirians…
One explanation for the coverage deficit in Côte d'Ivoire comes from its economy’s informal sector. By their nature and organization, existing schemes in Côte d'Ivoire are, to date, unsuited to the self-employed in an economy where nearly 90% of the working population is engaged in activities outside the conventional wage framework.
“It was, of course, essential to take into account the facts on the ground in Côte d'Ivoire, through a major diagnostic phase, which then made it possible to devise schemes that were sufficiently flexible to adapt to the immense diversity of these workers' profiles and needs." notes Thibault GAUTHIER, Senior Consultant for the FINACTU Group.
To carry out this project, the CNPS has deployed significant resources by mobilizing a team of experts, operating under the authority of a Project Management Committee, and dedicated to the implementation of expansion projects. This team is made up of all the Fund’s current and future career fields (actuarial, set-up/organization, IT, communication, legal, financial management). The effective implementation of these new schemes should start at the end of 2018.
“This project will lead to a profound change of paradigm, at the CNPS, insofar as the Institution will place the individual "insured patient" at the center of the program's management from now on… So, it will move from a "B to B" rationale to a "B to C" rationale. And this has major operational impact on the project that I have the pleasure of leading: in operational terms, a review of all procedures; in IT terms, a redesign of the information system; in terms of communication, following a strategy more closely geared to our new target; and so on, “ explains Serge DIBI, CNPS Project Manager.
This mission is therefore unique and particularly substantial. The FINACTU Group is very proud to have worked alongside the CNPS for more than 10 years, reflecting the trust that institution places in it.
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