Technical assistance to support social security and retirement reform at National Treasury of South Africa

Detailed description of project Back

South Africa has an extensive social grants system, which this year will provides vital assistance to more than 14 million of the most vulnerable people, almost 30% of the population. Millions more people are thought to rely on these grants because they live in the same household as a grant recipient.

The government established an Inter-Departmental Task Team (IDTT) on Social Security and Retirement Reform in 2007. The IDTT comprises various key departments including National Treasury, and the Departments of Social Development and Labour. The IDTT’s mandate is to devise a comprehensive system of social security which would ensure that workers are able to protect their livelihood (and that of their dependents) in the event that they can no longer work.

Te IDTT established five sub-task teams, responsible for the following key work areas:

• Non-contributory social security;
• Contributory social security;
• Institutional design;
• Financing social security; and
• Retirement fund reform.

These task teams are responsible for devising the reforms which will eventually be instituted under this key project for South Africa’s development.

Type of services provided

The core services provided by the Senior Consultant were:

• Provide continued Project Management Support and Services for projects;
• Provide continued stakeholder management support;
• Provide continued support to the design of the new social security system and its impact on the existing financial services industry;
• Provide support to long-term model that assesses the impact of proposed reforms of social security;
• Provide support for retirement fund reforms, with a particular on annuities.