pinBox designs a new digital micro-pension system for Papua New Guinea
pinBox has submitted its final report and recommendations to UNCDF, BPNG and NASFUND containing the digital product and process architecture design for a new micro-pension and micro-insurance scheme for PNG’s 5 million informal sector workers. A 4-member pinBox team worked with UNCDF, PFIP and NASFUND for 3 months to assess the feasibility of leveraging PNG’s DFS infrastructure for digital micro-pension inclusion. The pinBox paperless and cashless pension product and process architecture design for PNG is based on extensive consultations with key financial inclusion stakeholders and market research across 5 provinces of PNG. The pinBox recommendations will enable BPNG and NASFUND to rapidly establish a nationwide digital micro-pension marketplace on a variable cost model. This will in turn provide PNG’s 5 million excluded citizens with secure and convenient access to a simple, affordable and well-regulated pension and insurance solution.