Result achieved
Outcome summary
The actuarial valuation of the Greek Social Insurance Pension System was carried out by the National Actuarial Authority of Greece (NAA) using the ILO's pension model.
Outcome achieved
The actuarial valuation of the Greek Social Insurance Pension System was carried out by the National Actuarial Authority of Greece (NAA) using the ILO's pension model. The valuation was in line with the Ageing Working Group framework requirements for producing the 2018 Ageing Report. It was presented to the Economic and Financial Affairs Council, which endorsed it in spring 2018. The 2018 Ageing Report is publicly available.
ILO's contribution to the outcome
Technical assistance was provided by the ILO to the NAA with regard to the enhancement of the NAA actuarial pension models in view to produce the actuarial valuation of the Greek Social Insurance Pension System as well as the figures to be used for the 2018 Ageing Report.
The ILO produced a technical note confirming that the enhancements made to the actuarial pension models for providing the figures for the 2018 Ageing Report were in line with the ILO actuarial pension modelling methodologies and in accordance with the IAA internationally accepted actuarial practice.
Through the peer review of the actuarial study of the Greek Social Insurance Pension System, the ILO assessed that the overall projection results used for the 2018 Ageing Report were consistent and reasonable.