Members and beneficiaries are regularly and periodically informed of their rights and privileges, as mandated by the legislation, policy or decree that establishes the social security programme.

Members and beneficiaries are regularly and periodically informed of their duties and responsibilities, as mandated by the legislation, policy or decree that establishes the social security programme.

The legislation, policy or decree that establishes the social security programme normally prescribes its manner of financing and the benefits to be provided to the covered population.

Predictability refers to the consistent and uniform application of the law, including the rules and regulations to implement it. Stakeholders are generally averse to sudden or unannounced changes in contributions to and benefits from the programme. The methodical application of the programme will strengthen stakeholder confidence and support for it.

Members are informed about the benefits due to them under the social security programmes.

The board regularly, accurately and in a timely manner informs the stakeholders and the general public on the status of the social security institution and its operations.

The board establishes and abides by a workable code of conduct, which includes a policy on the disclosure and management of conflict of interest on the part of any board member.

The board establishes a policy on disclosure of information that clearly defines the grounds on which the board may choose to exercise discretion in providing information to stakeholders.

Open dissemination of key information about the social security institution does not necessarily imply transparency. To be transparent, such information, which is a basic right for stakeholders, members and beneficiaries of the social security scheme, should be timely, reliable, relevant, accurate and objectively verifiable.

The board implements the established actuarial measures to ensure the financial sustainability of each of the social security programmes established by the institution. For institutions that have investment reserve funds, standards and benchmarks are established for the returns on investments to support the financial sustainability of the social security programmes.

For social security institutions that have an investment mandate, legislation, policy or decree establishes the general direction of the investment policy and prescribes the types of allowed investment instruments. Furthermore, in order to maximize the long-term rate of return on reserves and at the same time mitigate investment risks, the range of instruments allowed for investments is sufficiently diversified.