SOCIEUX+ in Cambodia:
Financial regulations for social protection
In March 2017, the Royal Government of Cambodia adopted the National Social Protection Policy Framework (NSPPF), aiming to expand and reform the social protection system by 2025. NSPPF covers both social assistance and social security. Based on this framework, an expansion of social protection is currently ongoing. Health insurance and pensions for formal sector workers, as well as occupational health and safety reforms, are the primary domains. To develop the social protection system, a National Social Protection Council (NSPC) has been established. It has the responsibility to coordinate and steer the development of social protection strategies and policies, and is composed of representatives from related ministries and institutions.
According to the request submitted by the Ministry of Economy and Finance, SOCIEUX+ is supporting the newly established NSPC in its role as the social protection policymaker in Cambodia. In particular, SOCIEUX+ actions will help the NSPC General Secretariat to understand their mandate and clarify their functions for financial supervision of the social security system. The Cambodian authorities expect this technical assistance to showcase relevant international and EU case studies and outline options for the design and functioning of a financial regulatory authority. In the second phase, concrete policy options for the introduction of financial regulations, adapted to the Cambodian context, will be developed jointly by experts provided by SOCIEUX+ and NSPC staff.
The first planned activity, from 13 to 24 August, 2018, is where experts will present international and EU best practices and case studies on financial supervision and regulation of social protection schemes. Concrete examples will be showcased during an information session involving relevant staff of the NSPC General Secretariat. Furthermore, bilateral meetings with social protection stakeholders (ILO, WB, NSSF, MOH, EUD, etc.) will allow experts to assess the current evolutive policy context and focus their presentations and case reviews on the most relevant examples to inspire Cambodian policymakers in the design and set up of a financial regulatory authority.
2018-04, ACT. 1 (13-24 August 2018)