Database

Good Practices in Social Security

Database

Good Practices in Social Security

ISSA Database of Good Practices

This database provides ISSA members with privileged access to good practices, showcasing creative, smart and innovative ways to overcome challenges of social security administration at the institutional, national or international levels. Explore, be inspired by, and learn from these hard-earned and well-deserved successes of the ISSA members. Learn more about the ISSA Good Practices.

The map shows the first 100 results for the selected criteria. ⓘ

A robust and sound mechanism for guiding the crediting rate determination

Implementation year:
2019
Award Year:
2021
Fiji National Provident Fund , Fiji , Asia and Pacific

Each year in June (as required by law), the Board of the Fiji National Provident Fund (FNPF) makes two determinations:

  • Determining a crediting rate for the financial year just ended, which would adjust member balances accordingly on 30 June.
  • Determining a pro-rata crediting rate (or interim crediting rate), which will apply to full withdrawals during the financial year ahead.

A Distribution Policy was developed to guide the Board’s crediting rate determination process and which was built on the following principles:

Topic:
Actuarial
Governance and administration
Communication

Developing in-house actuarial function and strengthening actuarial governance

Implementation year:
2015
Award Year:
2021
Fiji National Provident Fund , Fiji , Asia and Pacific

The pension reforms carried out by the Fiji National Provident Fund (FNPF or the Fund) in 2011 ushered in a new legislation that changed the dynamics of the Fund. The new law was introduced to address the increasing pension burden, which was flagged as a financial and solvency risk and, given the Fund’s position in the financial sector, an imminent systemic risk.

Topic:
Actuarial
Governance and administration

A robust and sound mechanism for guiding the crediting rate determination

Implementation year:
2019
Award Year:
2021
Fiji National Provident Fund , Fiji , Asia and Pacific

Each year in June (as required by law), the Board of the Fiji National Provident Fund (FNPF) makes two determinations:

  • Determining a crediting rate for the financial year just ended, which would adjust member balances accordingly on 30 June.
  • Determining a pro-rata crediting rate (or interim crediting rate), which will apply to full withdrawals during the financial year ahead.

A Distribution Policy was developed to guide the Board’s crediting rate determination process and which was built on the following principles:

Topic:
Actuarial
Governance and administration
Communication

Developing in-house actuarial function and strengthening actuarial governance

Implementation year:
2015
Award Year:
2021
Fiji National Provident Fund , Fiji , Asia and Pacific

The pension reforms carried out by the Fiji National Provident Fund (FNPF or the Fund) in 2011 ushered in a new legislation that changed the dynamics of the Fund. The new law was introduced to address the increasing pension burden, which was flagged as a financial and solvency risk and, given the Fund’s position in the financial sector, an imminent systemic risk.

Topic:
Actuarial
Governance and administration