The purpose of the project is to ensure the risk and return of the investment portfolio of the Public Authority for Social Insurance (PASI) of Oman meets its target to maintain the sustainability of the scheme in order to provide the required benefits to pensioners.

The PASI risk scoring methodology is as follows:

Masdr Data Solution Company is a company owned by the General Organization of Social Insurance (GOSI) of Saudi Arabia. It was established in 2018 with the goal to utilize the labour market data and enhance the social and economic welfare. GOSI views Masdr as an opportunity to better serve society and contribute to the digital transformation inspired by the 2030 Vision. The establishment of Masdr has increased GOSI’s customer satisfaction as it shortened and eased the service delivery journey.

In early 2012, the Libyan Centre for Consultancies and Human Development (LCCHD, hereafter the Centre) was assigned to carry out the task of conducting the annual Training Needs Assessment (TNA) and delivering quality training for all Social Security Fund (SSF) employees across Libya.

The Civil Service Employees Pension Fund (CSEPF) is a service organization providing social protection to Omani citizens working in the public sector in Oman, the Gulf Cooperation Countries and elsewhere.

CSEPF established its Risk Department, which led to:

The Derrama Magisterial (DM) has begun offering a number of services in accordance with the terms of its Statutes, and one noteworthy scheme involves providing credit to member teachers at a preferential rate of interest. Such credit, along with other types of investment, helps support the organization, and contributes above all to providing pension-related benefits to member teachers and their dependents. 

In 2017, Raidah Investment Company (RIC) was mandated to become the investment arm of the Public Pension Agency (PPA) of Saudi Arabia. The RIC’s mission was to maximize investment returns while maintaining a prudent risk in order to meet PPA’s funding obligations.

In accordance with good practices concerning the governance and investment of social security funds, Morocco’s Deposit and Management Fund Insurance (Caisse de Dépôt et de Gestion Prévoyance – CDG Prévoyance), hereafter referred to as CDG Insurance, tasked with managing social security funds, makes systematic use of an annual external audit of its financial management conducted by a specialized external audit firm.

The Canada Pension Plan Service Improvement Strategy (CPP SIS), developed by the Employment and Social Development Canada (ESDC), was successfully concluded in 2022. The six-year strategy was designed to address service delivery challenges brought on by the increasing number of clients and evolving client expectations of government services.

Mexico’s National Commission of the Retirement Savings System (Comisión Nacional del Sistema de Ahorro para el Retiro – CONSAR) runs a professionalization training programme for the investment and risk management teams of Retirement Fund Administrators (Administradoras de Fondos para el Retiro – AFOREs). In this system, AFOREs’ staff members receive certifications from a recognized and prestigious independent third party that delivers training in financial matters.

Since 2016, Costa Rica’s Pension and Retirement Board of the National Teachers’ Union (Junta de Pensiones y Jubilaciones del Magisterio Nacional – JUPEMA) has established a self‑balancing formula for its defined-benefit Collective Capitalization System (Régimen de Capitalización Colectiva – RCC), which facilitates the setting of investment targets related to fund solvency, as well as the Board of Directors’ decision-making.

This is about a platform for data exploration and analysis which aims to allow large quantities of data to be visualized, filtered and categorized so as to inform organizational decisions affecting society at large.

The Social Security Fund (SSF) of Libya is seeking to ensure its investments and assets, creating psychological and social stability for its employees from operational risks, and transferring these risks to insurance companies to address them accordingly.

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.

China, as the most populous country in the world, is facing the great pressure of demographic change and the sustainability of old-age insurance system.

In recent years, the Chinese government has taken various measures to promote the market-oriented investment and operation of the basic old-age insurance fund (hereinafter referred to as the fund). The investment scale has increased year by year, and its income has steadily increased, providing support for the sustainable development of the old-age insurance system.

In the face of the problem posed by the financial deficit of the Sickness and Maternity Insurance in terms of its coverage for affiliates and pensioners, we had to look for methodologies to assess the future trends of revenues and expenses.

To estimate the coverage expense for Medical Expenses for Pensioners (gastos médicos de pensionados (GMP)), in 2013 we developed an actuarial model with which we could estimate the sufficient leveled premium to settle the future expenses based on the results obtained.

On the grounds of the amendment of the Mexican Social Security Law of 1995, we discerned the need to implement a new actuarial model to valuate the financial situation of the Disability and Life Insurance (seguro de invalidez y vida (SIV)), according to the radical change in the pension scheme. Therefrom, we adjusted the existing actuarial models; however, eventually, the need and challenge of reconsidering the model arose in order to have a model that covered the changes taking place during the terms of the pension scheme.

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.

Mexico’s National Commission of the Retirement Savings System (Comisión Nacional del Sistema de Ahorro para el Retiro – CONSAR) is committed to providing Mexican workers with guidance and education on financial and social security matters, specifically in relation to saving for old age. The “CONSAR Collection of Retirement Savings Calculators” (hereinafter Calculators) groups together tools designed for people who will retire under defined-contribution pension systems with individual accounts.

Since 2014, the actuarial department of Costa Rica’s Pension and Retirement Board of the National Teachers’ Union (Junta de Pensiones y Jubilaciones del Magisterio Nacional – JUPEMA) in Costa Rica has produced a report known as the “Blue Report” (Informe Azul) for members of its defined-benefit Collective Capitalization System (Régimen de Capitalización Colectiva – RCC). The report aims to give members an overview of the actuarial situation in accessible language.

Through this participation, we aim to clarify the idea of establishing the Libyan Centre for Research and Actuarial Studies, and the procedures that the administration followed in refining and qualifying human cadres in the fields of social protection, social research, and actuarial studies.

In order to achieve good corporate governance, the Risk Management Department developed an excel model for Risk Rating and Grading of the PASI investment portfolio for more effective risk management:
 

1. Design Risk Measurement Models:

Data is collected from PASI investments on a monthly basis to calculate the Yearly Volatility and Return.
 

2. Capital Asset Pricing Model (CAPM)

Calculation of Beta, Expected Return and Drift Rate.
 

Training is a key element for any organization striving to prepare cadres capable of meeting business needs and keeping abreast of the rapid developments and changes in the field of work. It is also considered one of the various means of investment that benefits the Social Security Fund (SSF, hereafter the Fund) of Libya.

Due to the wide scope of its statutory activities, the Social Insurance Institution (Zaklad Ubezpieczen Spolecznych − ZUS) has huge information resources and conducts numerous statistical surveys that allow for cross-sectional analysis of phenomena in the field of social insurance. The results of ZUS studies, analyses, forecasts and widely available statistical information are used by many public institutions, research institutions and private recipients.

The Pension Fund of Morocco (Caisse marocaine des retraites (CMR)) ensures the financial equilibrium of the pension schemes it manages by preparing actuarial balance sheets that are presented annually to its Board of Directors. The balance sheet results help decision-makers assess the scheme's financial sustainability and take decisions on steering the system or adjusting the parameters.

• the most recent statutory actuarial report prepared by the Chief Actuary tabled in Parliament;
• any more recent estimates of the Chief Actuary;
• to maintain a relatively stable ratio of assets to expenditures over a long time horizon by determining a rel

If the latest actuarial report indicates a minimum contribution rate that is higher than the current legislated contribution rate and the federal and provincial finance ministers, after their financial review, do not make a recommendation, then Canada Pension Plan (CPP) selfsustaining default provisions apply.

Default provisions: If the legislated contribution rate is lower than the minimum contribution rate and if finance ministers do not make a recommendation, then default provisions apply:

The long and difficult economic crisis which Cameroon went through between the mid-1980s and the early 2000s left its mark on the social security system managed by the National Social Insurance Fund (Caisse nationale de prévoyance sociale – CNPS), plunging the country into a structural deficit that lasted until 2016.

The Directorate of Workers 19 Social Protection (Direction de la Protection Sociale des Travailleurs (DAPS)) developed the ATLAS software as part of the reflection on and reform of pension schemes in Morocco. It is designed to respond to the specificities of Moroccan pension schemes. It can be used to develop projections that will assist in piloting these schemes by producing:

The scoreboard is a management tool designed to assist decision-making. It groups performance indicators concerning the financial and demographic status of a pension scheme as well as equity and intra- and inter-generational solidarity, in the form of a structured and synthetic report. It enables decision-makers to keep track of the evolution of the system they are managing, to detect possible threats and take the necessary decisions at the appropriate time.

The progressive establishment of Mutual Benefit Society for Public Employees (Mutuelle de la fonction publique – MFP) agencies in Burundi’s provinces encourages a gradual decentralization of services – notably registration, benefit checks and contribution collection – and also promotes the extension of health-care coverage throughout the country.

Since reforms of its scheme were implemented in 2003, the Interprofessional Retirement Fund (Caisse interprofessionnelle marocaine de retraite – CIMR) of Morocco has created its steering committee, composed of managers and senior members of the institution, which is aimed mainly at proposing to the Administrative Council all necessary measures to maintain the sustainability of the Fund over the long term, on the basis of updated financial and actuarial projections.

CDG Prévoyance, a branch of Morocco’s Deposit and Management Fund (Caisse de dépôt et de gestion – CDG), is responsible for managing two institutions: the National Pension and Insurance Fund (Caisse nationale de retraites et d’assurances – CNRA) and the Collective Pension Scheme (Régime collectif d’allocation de retraite – RCAR). Its primary mission is to ensure the management of pension schemes and solidarity funds, while contributing to the country’s economic, social and human development.

As part of its social mission, Morocco’s CDG Prévoyance manages, by way of the National Pension and Insurance Fund (Caisse nationale de retraite et d’assurances – CNRA), a public institution guaranteed by the State, a multitude of schemes and solidarity funds covering various categories of beneficiary. As such, the CNRA is responsible for collecting the constituent capital, which is calculated according to rates imposed by legislation.

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.

The Office of the Chief Actuary (OCA) is required by legislation to produce regular actuarial reports assessing the sustainability of the Canada Pension Plan (CPP). The Chief Actuary is solely responsible for the content of the report and for the assumptions used.

The OCA follows a well-documented and clear assumptions development process.

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 city of Neuquén’s Municipal Social Insurance Institute (Instituto Municipal de Previsión Social – IMPS), part of Argentina’s Federal Social Insurance Council (Consejo Federal de Previsión Social – COFEPRES), was founded on 28 August 1958. It was established with a view to speeding up the process by which benefits were granted to the city’s municipal employees, since at that time these procedures were referred to the city of Buenos Aires by virtue of National Law No. 4349.

The progressive opening of Mutual Benefit Society for Public Employees (Mutuelle de la fonction publique – MFP) counters in Burundi’s public and accredited hospitals helps to combat fraud, social security evasion and identification, and prescribing errors while promoting the gradual extension of health-care coverage throughout the country. This results in job creation, as benefit controllers are recruited to work in the hospitals in question. There are also significant advantages for the MFP, as vast amounts of money are returned to the fund and fraud and error are prevented.

After incorporating all social insurance systems represented in the civil service retirement, military service retirement, and the free social pension systems under one title and organization, namely, The General Committee of Social Security, and after the return of all the assets and properties of these systems to the mentioned commission, all of which has emphasized the financial status of the commission to result in owning strong financial assets and returns. As a result, the serious need to find various investment channels arose.