The national provident fund model: An analytical and evaluative reassessment

Both earlier and current analytical perspectives on appropriate modes of delivering retirement provision have tended to underestimate both the inherent adaptability and the developmental potentialities of the national provident fund (NPF) model. The essence of this model is found in the welfare salience of the possibility of synergy between the NPF's direct (retirement provision) and indirect (development finance institution) roles in developing political economies. Diffusion is found to be important in the development of the NPF model from Asian origins and in its subsequent retention in a limited number of states. NPF “success stories” are few in number but potentially significant given their regional concentration and impact, the latter currently underlined by further expansion and development of existing NPFs and by recently renewed prospects for regional diffusion of the model. Further examination of the significantly enhanced welfare outcomes achieved through the creative utilization of existing NPFs underlines the potentiality for NPF-led development within “pillarized” retirement provision.

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