Social protection

Actuarial valuation of the National Social Security Fund of the Lao People’s Democratic Republic

In 2021, ILO received an official request from the Lao Social Security Organization to conduct an actuarial valuation of the National Social Security Fund (NSSF) in preparation for an amendment of the Social Security Law in 2024–25. Article 77 of the Social Security Law provides that an actuarial valuation must be conducted every 5 years, and that contribution rates should be adjusted to reflect the country’s socio-economic dynamics. The findings of the actuarial valuation are intended to form the basis for decisions on reforms to the NSSF and the improvement of governance, management and administration processes. This actuarial valuation was performed as of data from 31 December 2021. A separate ILO report presents the findings of the actuarial valuation of the health insurance benefits.