Result achieved
Linked projects
Outcome summary
The sixth actuarial valuation of the Sultanate of Oman’s Public Authority for Social Insurance (PASI) was carried out.Outcome achieved
1) The sixth actuarial valuation of the Sultanate of Oman’s Public Authority for Social Insurance (PASI) was carried out as at 31 December 2011. It was submitted and accepted by the PASI in 2015. Stakeholders of the scheme (the Minister of Manpower and Chairman of the Board, members of the Board, the PASI senior management, and representatives of workers’ and employers’ organizations) were consulted. 2) The actuarial study of the proposed unemployment insurance scheme for private sector workers to be submitted and endorsed by PASI in December 2015.
ILO's contribution to the outcome
1) ILO in collaboration with the PASI prepared the sixth actuarial valuation of the PASI and provided a tailor-made training programme in social security statistics and actuarial analysis for the staff of PASI on the basis of the ILO actuarial model developed specifically for the PASI scheme. 2) Upon the request of the Government in June 2015 to take up the work, the ILO is carrying out actuarial valuation for the unemployment insurance scheme which will be the basis for providing tripartite stakeholders with the policy frame for the new unemployment insurance scheme. The actuarial valuation will assess the cost of the new scheme, provide input on possible parameters for the new scheme as appropriate, and evaluate the detailed financing methods in accordance with PASI requirements.