Excellence in administration

  • Guidelines:
  • Actuarial Work for Social Security

Excellence in administration

  • Guidelines:
  • Actuarial Work for Social Security

Actuarial Work for Social Security -
Guideline 50. Independence of the actuary

The social security institution and supervising authorities take measures which seek to ensure and maintain the independence of the actuary.

The quality, accuracy and reliability of the actuarial work carried out for, and on behalf of, a social security institution will depend on safeguarding the independence of actuaries and their work. The actuary may face internal pressures or constraints from within the institution. There may also be external pressures (for example political) faced by the actuary and/or the social security institution. Such threats to the independence of the work undertaken should be mitigated through appropriate internal policy measures as well as legislative and regulatory support. The social security institution should also put in place safeguards to assess whether the actuary is faced with any conflict of interest and measures that should be taken in such cases.