- The State rewards “Pension and Gratuity” as the benefits of retirement mentioned in the law to the service personnel when they retire. In doing so, Pension Department is undertaking in rewarding the benefits of retirement. The functions, objectives, and policies of the Pension Department are as follows:
(a) Main Functions of the Pension Department
- Undertaking the pension system reform processes in order to develop and exercise the sustainable National Pension System,
- Issuing Pension Pay Authority to Myanmar Economic Bank after checking and confirming the Pension and gratuity for the Service Personnel retired from the Department,
- Issuing Audit Report to the respective enterprises after checking and confirming the Pension and gratuity for the Service Personnel retired from the State Economic Enterprises and City Development Committees,
- Undertaking the pension cases for commutation of the pensioners retired from the Departments, Enterprises, and City Development Committees,
- Sharing the pension knowledge processes regarding the pension benefits, application form, the necessary documents, calculation formula, etc.,
- Reviewing the pension policies, submitting them to the Pension Department(HQ) to confirm and getting approval,
- Cooperating with the respective agencies for the pension data accuracy,
- Developing the ICT-based record-keeping system for the IT application, Data Communication Network, Website, and Pension Administration,
- Changing the ICT-based calculation system from the paper-based pension benefit calculation system,
(b) Objectives of Pension Department
- To transform the current Unfunded Defined Benefit Pension System into the Funded Defined Contribution System like many other countries in order to reduce the burden for the government and become a sustainable pension system in long term,
- To set up the National Pension System in order to cover the employees from the public sector as well as from the private sector to be extended in long term after the establishment of the Central Provident Fund in Myanmar,
- To act as the regulatory role for the pension fund relevant to the private sector,
- To establish the necessary physical infrastructure, IT infrastructure including Management Information System and Data Communication Network, the human resource development and promoting the Role of Organization for Pension Department as the parallel system,
(c) Policies of Pension Department
- To emerge a more efficient, effective, and reliable system,
- To transform the current pension system into a defined contribution based on the Central Provident Fund for the security of future retired life of the Civil Servants,
- To emphasize the benefit payment from the aspect of financial sustainability,
(d) Mottos of Pension Department
- Do best out of goodwill for pensioners.
- Let’s strive to meet the satisfaction of pensioners.
- Emerging and Practicing the Reliable and Sustainable Pension System.
- To emerge a reliable and sustainable pension system.
- To assist the economic and social security of the civil servants helping to reduce poverty.
Organization of Pension Department
2. Pension Department is organized with the offices of regions and states as follows;
- Headquarters (Naypyidaw),
- Kachin state office,
- Kayah state office,
- Kayin state office,
- Chin state office,
- Sagaing region office,
- Tanintharyi region office,
- Naypyitaw council branch office,
- Bago region office,
- Bago region branch office(Pyay),
- Magway region office,
- Mandalay region office,
- Mon state office,
- Rakhine state office,
- Yangon region office,
- Shan state office,
- Shan state branch office(Lashio),
- Shan state branch office (Kyaing Tong),
- Ayeyarwaddy region office.