Actuarial & Social Budgeting Tools
Many countries require neutral objective advice on strategic or managerial financial and fiscal questions or support in building up national capacities for sound financial design and management of social protection programmes. The ILO's International Financial and Actuarial Service (ILO FACTS) assists government agencies and autonomous social protection organisms to develop their own capacity for quantitative planning, and improve the management and governance of their social protection schemes. ILO FACTS is a public sector advisory group for the exclusive use of national social protection agencies or social security schemes. It is a service that the ILO provides to its constituents. It is highly specialized in the actuarial, financial and fiscal questions of social protection. It is the consulting group with the longest and most extensive international experience in quantitative aspects of social security in the world.
In line with its mission and mandate, and in contrast to private sector actuarial consulting firms, the focus of ILO FACTS is national capacity building. Because of the Organization's tripartite structure, ILO FACTS is in a position to provide services to workers' and employers' organizations, as well as to governments, with ensured impartiality.
ILO FACTS provides advice and assistance to constituents in the reform, planning and analysis of their social security systems based on actuarial valuations and national social budgeting exercises, with the participation of experts from national agencies and collaboration with other international agencies.
ILO FACTS services include:
- actuarial reviews of national pension benefits, health care benefits, short-term benefits and unemployment benefits systems;
- comprehensive financial, fiscal and economic analyses of social security reform proposals;
- analyses of national social budgets.
ILO models: Basic social protection tool, Pensions (DB, DC, NDC), Health, Social assistance, Employment injury insurance, Others