Guideline 59. Actuarial valuations of the social security programme

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The programme has regular actuarial valuations to monitor sustainability.

Guideline code
GG_07700
Mechanism
Mechanism
  • The social security institution should have access to the services of competent actuarial services, whether internal or external, to conduct periodic actuarial reviews of the different programmes.
  • The preparation of the actuarial valuation reports should comply with international standards such as those prescribed by the International Actuarial Association.
  • The board and/or management may have an independent validation of the actuarial report.
  • The external authority should prescribe a time period for the board and the management to act upon the findings and recommendations of the actuarial report.
Parent
B. Guidelines for Specific Areas in Social Security Administration
Structure
Structure
  • The board and/or management should ensure regular actuarial valuations of the social security programme.
  • The actuarial reports should be submitted to the board and management as well as to the competent external authority that exercises supervision and oversight on the social security institution.
  • There should be an independent office that regularly conducts actuarial reviews and actuarial valuations of the different programmes.

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Guideline 59. Actuarial valuations of the social security programme
Type
Guideline_1
Weight
81