The Asian Development Bank is reviewing the asset allocation and manager list for its $620 million employee pension fund, but will probably retain its current asset mix policy, says Rosario Abad Santos, compensation and benefits officer.
The Manila-based multinational organization's retirement plan is in healthy shape. It runs a contributory defined benefit scheme, in which employees pay a fixed 9.33% of monthly salary and the ADB kicks in a variable amount on top, now around 11.00%. The ADB's contribution has been as high as 18.66% but the booming equity markets of the 1990s allowed it to relax contributions.
Currently the ADB is considering raising its own contribution level, having seen the plan's net assets...
