Result achieved
Outcome summary
The conclusions and recommendations from the ILO peer of the Thirteenth Actuarial Valuation of the Kuwait Public Institution for Social Security were endorsed
Outcome achieved
The Kuwait Public Institution for Social Security (PIFSS) has available knowledge to make an informed decision on strengthening and ensuring the sustainability of their social security system based on the ILO peer review of the Thirteenth Actuarial Valuation of the PIFSS, whose conclusions and recommendations were endorsed in April 2019 by the PIFSS. The PIFSS has tabled the actuarial valuation in Parliament and the PIFSS has taken concrete steps with the Ministry of Finance to fund the deficit identified in the actuarial valuation to strengthen and ensure the sustainability of the scheme.
ILO's contribution to the outcome
The ILO produced the peer review of the Thirteenth Actuarial Valuation of the PIFSS in strong consultation with the Quebec École nationale d’administration publique (ENAP) team, which conducted the actuarial valuation report. The peer review report, which was published in April 2019, concluded that the Board and management of the PIFSS and the scheme members can have confidence in the conclusions and recommendations of the Thirteenth Actuarial Valuation report.