Actuarial Work for Social Security

Actuarial Work for Social Security

App folder
sites/default/files/images/guidelines/COLL09/
Guideline code
ACT
Old code
COLL09
Weight
7

The eNAPSA

The National Pension Scheme Authority (NAPSA) was created in 2000 by an Act of Parliament number 40 of 1996 to administer the National Pension Scheme. The Authority’s key mandate includes; registration of members, collection of member contributions, prudent investment of the contributions, and to pay benefits when they fall due.

The eNAPSA

The National Pension Scheme Authority (NAPSA) was created in 2000 by an Act of Parliament number 40 of 1996 to administer the National Pension Scheme. The Authority’s key mandate includes; registration of members, collection of member contributions, prudent investment of the contributions, and to pay benefits when they fall due.

Application of provisions to increase pension rights: The case of the National Social Security and Insurance Trust

The National Social Security and Insurance Trust (NASSIT) was established through an Act of Parliament and is charged with the responsibility of administering the Sierra Leone Pension Scheme. NASSIT started full operations in January 2002 as a partially funded defined benefit pension plan which requires a member to contribute for at least 180 months on/before they retire at age 60 to qualify for full retirement pension.

Implementation strategy for extending coverage to producers

In Madagascar, a large proportion of the population lacks access to social protection, especially rural producers. For more than a decade, government policy and legislation have foreseen the extension of social security coverage to the entire working population. However, only the scheme for salaried employees is in existence to provide such generalized social security coverage.

Actuarial valuations

The valuation of the balance between the acquired pension entitlements and liabilities of the mandatory pension insurance system is conducted on the basis of the Pension Fund’s (PFR) actuarial model, developed and verified by a specialized department of the PFR - the Department for Actuarial Valuations and Strategic Planning. This model is a unique product and enabler to accumulate every specific option of pension entitlement valuation under the national pension legislation.

The Orange Report

The Orange Report - The Annual Report of the Swedish Pension System - is a means of spreading and presenting information and knowledge about how the Swedish public pension system works and performs.

The Orange Report combines common accounting principles and a specially developed method to be able to present the financial development of a public (and essentially pay-as-you-go financed) pension scheme.

The target groups for this system level information are: government, politicians, policy analysts, media and researchers.

Development of a microsimulation model to forecast the Social Insurance Fund spending and revenues

The Polish Social Insurance Institution (ZUS) is by law obliged to prepare forecasts of the spending and revenues of the Social Insurance Fund (FUS) (i.e. the pension fund, the disability fund, the sickness fund and the work injury fund). A cohort model built to fulfil this requirement was sufficient to forecast aggregate spending and revenues, but, being based on average cohort values, it does not provide information on the benefits’ structure.