The Pacific Financial Inclusion Programme (PFIP) wishes to undertake research to determine how to extend coverage of superannuation and pension benefits to people who are not mandated to contribute and assess the suitability of existing superannuation products (including Eda Supa) for such segments. Although the proposed research is expected to focus on voluntary contributions by those in smaller firms and on other informal sector non-salaried citizens, it should cover compulsory contributors of NASFUND to achieve a better understanding of the performance and perception of existing retirement saving options. The company is expected to provide the following deliverables:

1. Well analyzed and presented research findings on the target market segment answering the key questions in the scope of work. Preliminary findings will be presented to NASFUND and PFIP before the research team departs PNG to reach consensus on priority next steps.

2. A detailed analysis of the performance of Eda Supa, identifying key challenges impacting update and activity level and recommendations for consideration of PFIP and NASFUND

3.    A recommended model (or models) for extending pension benefits to the informal sector. This may include a pilot activity to field test key assumptions and to refine the model, refine the existing Eda Supa product, its features and benefits following the findings from the research.

4.  A full implementation plan, with activity schedule, time-lines and budget, for the implementation of the endorsed model/approach – if proven viable and agreed to by NASFUND.

Refer attached Terms of Reference as Annex 2 for details.