Ms. Tsogzolmaa J, Specialist, The Social Insurance Policy Implementation Coordination Department, The MLSP

“THREE QUESTIONS”: INTERVIEW WITH THE BENEFICIARY

1. What was the highlight of the project for you?

According to section 2.5.3 of the Mongolian Government Action Plan 2020-2024, “The services related to education, health, pension, housing and social security for every citizen will be comprehensively resolved through Central Provident Fund Mongolia,” and article 3.1.1 of Mongolia’s Five Year Development Guidelines for 2021-2025 sets out “Carry out a legal reform aimed at revising the social insurance legislations so that the insured receive their pensions from multiple sources, and creating a consolidated savings fund to enable actual savings for citizens.” Within the framework of the above-mentioned provisions:                  

Concerning creating a Central Provident Fund that meets the characteristics of Mongolia, the study on international best practices and preliminary assessment studies were conducted. Moreover, the Ministry has collaborated with the International Consulting Service Team from the Singapore Cooperation Enterprise to assess the feasibility of developing a Central Provident Fund in Mongolia stably and comprehensively, and this assignment was supported by the World Bank's "Strengthening Fiscal and Financial Stability Project." The highlights and benefits of the implementation of this project are enormous. The consultant team assessed the feasibility of establishing a Central Provident Fund in Mongolia, conducted training on Singapore's experience, and prepared three major reports which include a strategic plan for implementation in Mongolia for the Ministry of Labor and Social Protection. We are grateful for the Project Implementation Unit’s excellent coordination between the Ministry of Labor and Social Protection and the Singapore Cooperation Enterprise.

2. Why?

I am in a team responsible for the Central Provident Fund that is going to be established in the future. From Singapore's experience, it can be seen that the middle class can be expanded if the Central Provident Fund is to be directed to solve the basic needs of its citizens such as health services, education, and housing. As part of the World Bank's "Strengthening Fiscal and Financial Stability Project," during the period of cooperation with the consulting service team of the Singapore Cooperation Enterprise, I also participated in a 7-month phased training in the field of urban management (Public Housing) in Mongolia. This also shows that the project has been providing various benefits and wide opportunities. 

3. In your opinion, what was the result and significance of this activity?

In addition to studying international experience in the field that I am responsible for within this project scope, I have cooperated with the consulting service team, participated in online training, developed my skills and implemented them in real situations, and received specific innovative ideas for improving services and adding value to my work and organization. I would like to express my deepest gratitude to the team implementing this project and wish them great success in their future work.

Strengthening Fiscal and Financial Stability Project, Room 205 United Nations Street 8/2 4th khoroo Chingeltei district Ulaanbaatar-15160 Mongolia
+976-70120582
training@sffs.mn