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1818 Society Annual Meeting October 14, 2010 Sharada Sundar Acting Manager, Pension Administration

Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

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Page 1: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

1818 Society Annual MeetingOctober 14, 2010

Sharada Sundar

Acting Manager, Pension Administration

Page 2: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

(as of September 30, 2010)

Page 3: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

Age Bracket Gross Plan Net Plan

Age 20 - 29 0 854

Age 30 - 39 10 4331

Age 40 - 49 750 4134

Age 50 - 59 1474 2102

Age 60 and over 198 216

Total 2432 11637

Average Age 53 42

Page 4: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

Age Bracket Gross Plan Net Plan

Age Less than 50 3 0

Age 50 - 59 838 28

Age 60- - 69 2970 181

Age 70 - 79 1923 0

Age 80 - 89 725 0

Age 90 and over 85 0

Total 6,544 209

Page 5: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

GROSS PLAN

WITHDRAWALS EARLY RETIREMENT NORMAL RETIREMENT DEFERRED RETIREMENTNumber Age Service Number Age Service Number Age Service Number Age Service

2005 2 37.1 7.5 178 56.4 23.5 89 62.5 19.0 24 44.5 13.52006 1 37.0 5.0 170 56.8 24.3 95 62.3 21.0 13 43.6 11.92007 1 35.8 13.5 174 56.5 24.2 74 62.3 20.9 33 45.9 13.82008 0 NA NA 153 57.1 23.5 81 62.3 22.0 10 44.8 15.52009 0 NA NA 125 56.8 24.3 71 62.6 21.9 9 46.4 14.52010 0 NA NA 94 56.3 23.4 54 62.4 21.9 6 49.9 17.9

NET PLAN

WITHDRAWALS EARLY RETIREMENT NORMAL RETIREMENT DEFERRED RETIREMENT

Number Age Service Number Age Service Number Age Service Number Age Service

2005 726 38.2 3.3 1 61.3 10.9 4 62.1 16.4 7 45.9 10.5

2006 757 38.3 3.5 1 58.4 8.2 3 62.1 15.5 5 53.2 12.0

2007 773 37.6 3.5 2 56.8 14.8 28 62.1 12.1 15 52.0 11.1

2008 705 37.7 3.6 11 55.5 10.1 25 62.4 11.0 35 50.3 10.6

2009 401 38.5 3.4 17 57.8 11.0 51 62.3 11.6 29 46.7 11.1

2010 405 36.0 2.8 3 56.1 11.6 35 62.1 12.2 18 51.0 11.5

Page 6: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

Top 10 Countries of Residence

United States 4,969

United Kingdom 289

France 262

Canada 123

India 111

Australia 100

Germany 84

Japan 67

Chile 56

Austrian 51

Page 7: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

Year USDOther

Currencies

New Currency Elections

NumberUSD

Payments

NumberNon-USD Payments

PercentNon-USD

2006 313,609,279 40,362,797 85 6,427 740 10.33%

2007 333,028,135 50,714,844 125 6,423 852 11.71%

2008 362,330,640 64,203,139 144 6,635 954 12.57%

2009 384,987,864 66,190,078 80 6,649 964 12.66%

2010 YTD 303,642,118 50,830,803 42 6,837 1,034 13.14%

Page 8: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

• For USD - Department of Labor Statistics – CPI-U (Consumer Price Index for all urban

consumers)

• For other currencies - IMF International Financial Statistics– EUR – Monetary Union Index of Consumer Prices

– Other currencies – country-specific CPI

Page 9: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

• Timing - latest data available for May 1 effective date– US – March CPI

– Other currencies – latest information available in IMF database the last business day of April

• Calculation - index for current year divided by index for highest previous year– If greater than 1, pension is increased

– If less than 1 (i.e. deflation), no change in pension

Page 10: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar

• Life certificates will be mailed out the last week in January

• You must sign the Life Certificate and have your signature witnessed by a non-family member

• Your duly completed Life Certificate must reach our office by April 30, 2011. (Over 200 were still outstanding April 30, 2010)

• Non-receipt of your Life Certificate will result in the suspension of your pension payment due at the end of May. We suspended 45 pension payments.

• Please allow one business day for Pension Administration staff to reprint your life certificate

Page 11: Sharada Sundar Acting Manager, Pension Administrationsiteresources.worldbank.org/1818SOCIETY/...Presentation_Sharada.pdf · 1818 Society Annual Meeting October 14, 2010 Sharada Sundar