Social Protection

Building social protection floors
and comprehensive social security systems

Actuarial Modelling Support to the National Actuarial Authority of Greece

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Project properties

  • Partners: Direct Trust Fund
  • Status: Completed

Description

1. Background and Justification 1.1. Request analysis The Government of Greece has requested the ILO to provide specific support on actuarial modelling in the context of the actuarial valuation of the social insurance pension schemes to be carried out by the National Actuarial Authority of Greece (NAA). The NAA makes use of actuarial pension models which are fully customized versions of the ILO generic pension modelling tool. The models have been customized in order to closely comply with national social insurance legislation and capture national pension peculiarities. Methodological enhancements to the NAA projection models need to be introduced in the context of continued improvement of the accuracy of the projection results (in addition to fully reflect recent legislative amendments L.4336/2015 and L.4387/2016). An ILO certification is sought in view of the appreciated unique position of the ILO to deliver technically sound actuarial modelling support. The agreement is part of long-standing technical co-operations between the ILO and the Government of Greece, which were initiated in 2005 in the early years of the establishment of the National Actuarial Authority of Greece (NAA). 1.2. Target groups and Partners The beneficiaries of the project will be policy makers, managers, technical staff and social partners in Greece involved in the design and implementation of social security and employment policies. In the ultimate beneficiaries will be included all male and female workers covered by the Greek Labour Laws through the social security scheme whose financial sustainability is secured by a periodical actuarial valuation.

SDG

SDG
Goals
  • End poverty in all its forms everywhere

Time

28.04.2017 - 31.01.2018
 

Budget

42 554 / 42 554 Development Cooperation
 

Timeline of linked projects

70 GRC/17/01/GRC 04 28 2017 01 31 2018
01 01 2018 12 31 2019 Greece - Improved governance of national social security system (country programme 2018-19) 839

Publications

GRC/17/01/GRC Europe and Central Asia Greece Employment services , Family benefits , Health care , Income security , Employment policy , Social health protection , Children , Disability , Actuarial valuation , Maternity , Employment injury , Old-age , Model , Sickness , Survivors , Unemployment , Projections