ANSWERS TO THE FOUR (4)

QUESTIONS POSED TO MEMBERS OF

GROUP D

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TABLE OF CONTENTS

I. Introductioon
II. Presentation of group members ;
III. Questions asked to be answered according to
the reality of Angola and Mozambique;
IV. Answers to the questions according to the
reality of Angola and Mozambique;
V. Conclusions.

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 1. INTRODUCTION
This presentation aims to answer the four main
questions related to the pension system in
accordance with the reality of Angola and
Mozambique, in order to elucidate the treatment of
pension systems given by the competent authorities
of these two Portuguese-speaking countries within
the scope of the exchange of experience and
information sharing

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 2.Presentation of group members

1 Rafael Ndumba rafael.ndumba@arseg.ao ARSEG Angola Portuguese    

2 Novaldo Cassule novaldo.cassule@arseg.ao ARSEG Angola Portuguese    

3 Fabio Carvalho fabio.carvalho@arseg.ao ARSEG Angola Portuguese   Líder of Group D

4 Daniel Nsimba daniel.nsimba@arseg.ao ARSEG Angola Portuguese    

5 Eriberty Jaime eriberty.jaime@arseg.ao ARSEG Angola Portuguese    

Mozambiqu
6 Isabel Marulo Isabel.Marulo@issm.gov.mz ISSM Portuguese    
e

Mozambiqu Portuguese  
7 Isabel Nhacula Isabel.Nhacula@issm.gov.mz ISSM e  

Mozambiqu Portuguese  
8 Lodovina Chilengue Lodovina.Chilengue@issm.gov.mz ISSM  
e

Mozambiqu
9 Benilde Limbau Benilde.Limbau@issm.gov.mz ISSM e Portuguese    

10 Vasco Chimene Vasco.Chimene@issm.gov.mz ISSM Mozambiqu Portuguese    

e
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3. Questions asked to be answered according to
the reality of Angola and Mozambique;
• A.) How did the Covid 19 pandemic affect pension
outcomes in your countries?
• b.) Did the roles of the pension regulator and
administrators change during the pandemic?
• c.) What instruments were implemented by the
regulator during the pandemic?
• d.) How did IOPS regulators respond to the pandemic
and what could have been done differently in Africa?
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4. Answers to the questions according to the reality of Angola
and Mozambique;

A.) How did the Covid 19 pandemic affect pension outcomes

in your countries?
the Angolan Pension System was very affected, as it recorded
an unemployment rate above 30%, this situation caused
numerous gaps in the contribution in the working career due
to unemployment. These cuts in activities were very severe
both for the rights of future workers and for the sustainability
of the Social Security system. This situation has been
aggravated as the unemployment situation continues to
increase so far. 6
 B) Did the roles of the pension regulator and
administrators change during the pandemic?

• The main changes in the measures taken by the regulator

under the Private Social Security system during the
pandemic were as follows:
• Extension of the period for reporting information by the
Supervised Management Entities; and
• Reduction in the value of the Contribution Rate to the
Regulatory Agency, no longer levied on the fund value, being
deducted from the value of the contributions.

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The main changes in the measures taken by Pension Fund
Managers under the Private Social System during the
pandemic were as follows:
1. Establish emergency decision-making teams.Pension Fund
Management Companies created Emergency Response
Teams, which established the strategy and defined the
objectives of the emergency plan, ensuring that decisions
were taken as quickly and accurately as possible.
2. Assess risks and establish emergency response
mechanismsPension Fund Management Companies have
created emergency contingency plans" or "business
sustainability plans" to be applied in the event of a major
emergency. 8
 c) What instruments were implemented by the
regulator during the pandemic?

• The policies to respond to the current crisis consisted of

reducing current contribution revenue, allowing deferred
payment or authorizing temporary reductions in
contributions to the Public Social Pension System. Deferral
periods lasted for three months and were applied or
offered to a range of companies, such as small and
medium-sized companies or companies in highly affected
sectors (eg Hotelary and Restaurants).

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 D) How did IOPS regulators respond to the pandemic and
what could have been done differently in Africa?
• Early retirement for all participants who contract COVID 19,
as long as they have quoted enough years for the referred
benefit.
• Suspension of payment of contributions from participants
who contribute annually up to USD 10,000.00 until June 30
of the current year.
• Retired participants did not tax private pensions. Since,
Social Security the public social security contribution is not
included.
• Strengthening the prudential structure: 10