The first virtual 20th ISSA International Conference of Social Security Actuaries, Statisticians and Investment Specialists (ACT 2022), attracted great interest from members of the International Social Security Association (ISSA) around the world.
The virtual format of ACT 2022 gave the opportunity to reach a much wider audience than any of the previous 19 conferences of this kind. With close to 1000 registered participants from 212 institutions in 131 countries, ACT 2022 exceeded expectations, and there was a high-level of participation throughout the four days of the conference.
“This event has demonstrated the richness of the ISSA as an Association where members can share, learn and apply unique knowledge”, said ISSA Secretary General Marcelo-Abi Ramia Caetano in his closing remarks. The Secretary General emphasized his own close personal link to this conference since he started his career in social security in the actuarial field.
The Technical Commission on Statistical, Actuarial and Financial Studies and the Technical Commission on Investment of Social Security Funds played important roles in organizing ACT 2022. The conference tackled four major topics in the field of actuary, statistics and investment strategies for social security institutions and funds:
Impact of the COVID-19 pandemic on social security programmes
The pandemic has had a major impact on social security institutions and programmes that will have longer term repercussions, particularly related to the sustainability of the systems.. Speakers from Argentina, Canada, Indonesia, Italy, Poland, Saint Vincent and the Grenadines, the International Labour Organization (ILO) and the Organisation for Economic Co-operation and Development (OECD), contributed with their experiences and insights to this part of the programme. The COVID-19 chapters in the regional ISSA reports, analysis articles and ISSA COVID-19 Monitor are also rich sources of information on this topic.
Financing of long-term care
Ageing populations is a key priority for societies and social security institutions around the world, as addressed in the ISSA regional reports. This requires new strategies and approaches to financing of long-term care, with the ambition to ensure that people not only live longer, but are also active and lead meaningful lives. This topic was addressed by speakers from Canada, Cyprus, Germany, Republic of Korea, Lebanon, Slovenia the European Commission, the ILO and the World Bank
Impact of the green economy transition on social security programmes
United Nations (UN) Secretary-General António Guterres has referred to global warming and climate change as "a code red for humanity”, and “Climate action” is one of the UN Sustainable Development Goals. Social security funds will not only be impacted by global ambitions for a transition towards a green economy, but they can also be drivers of this development. Speakers from Canada, Finland, France, Kenya, Netherlands, Peru, Singapore, the International Actuarial Association (IAA) and the ILO contributed to this discussion during ACT 2022.
Considerations for setting investment and actuarial assumptions
This part of the programme went to the core of the technical content for actuaries, statisticians and investment specialists. Speakers from Canada, Lithuania, United Kingdom, United States of America, Uruguay, and the OECD, contributed to the discussions setting investment and actuarial assumptions. They shared practices based on multi-disciplinary and collaborative approaches to address the main social and economic challenges.
The event concluded by highlighting the relevance of the discussed topics, which will be further addressed in upcoming ISSA projects and events, particularly in the next triennium 2023-2025.
Video recordings and presentations from all the sessions are available online for ISSA members. Reflections from the discussions will also be useful in the finalization of the revision of the ISSA‑ILO Guidelines on Actuarial Work for Social Security, a draft version of which is available for consultation until 17 April.