Excellence in administration

  • Guidelines:
  • Actuarial Work for Social Security

Excellence in administration

  • Guidelines:
  • Actuarial Work for Social Security

Actuarial Work for Social Security -
Guideline 33. Mitigation of risk

Once risk has been identified and measured, the social security institution makes appropriate decisions regarding the mitigation and treatment of risk.

This guideline covers how the social security institution treats risks. Even though certain areas of operation of the social security institution and/or social security scheme may accept higher risk when this is rewarded, this decision should be made in the context of reducing overall system risk or risk to society. Therefore, the treatment of different risks, including the possible reduction of risk and the choice between retaining and transferring remaining risk, should be undertaken in the context of an overall risk mitigation objective.