Assumptions in the actuarial evaluation process
Review of the European Union methodology for age-related expenditure projections
The main purpose of this paper is to:
- present the overall context within which the 2009 exercise of age-related expenditure projections in all EU M-S (M-S) was conducted;
- provide a brief description of the underlying assumptions used and projection methodologies adopted in the pensions and health care expenditure projections;
- present the 2009 pension projection results for Greece and Cyprus; and
- identify the main areas for improvement in the Ageing Working Group (AWG) projection methodologies by assessing their compatibility with standard actuarial practice methodologies.
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