Actuarial Valuation of the National Social Security System (NSSS)

The project will deliver an actuarial valuation report outlining the financial projections for the status-quo situation as well as the reform options and the recommendations to ensure its long-term financial sustainability. The project will also contribute to actuarial capacity building of the NSSI staff. The project will enhance the financial governance of the NSSS of Mozambique, namely by: ¿ Securing the long-term financial sustainability of the NSSS; ¿ Considering appropriate reform measures based on the findings and recommendations in the actuarial valuation report; and ¿ Building appropriate actuarial and statistical capacity for the NSSI staff to support future actuarial valuations and social security reforms. The main output of the project is an ILO report on the actuarial valuation of the NSSS of Mozambique. Its content will be: a. a review of past experiences of NSSS financing situation, including the income and expenditure and the coverage; b. a revision of the entire set of demographic, economic and actuarial assumptions taking into account past experiences; c. a description of the database and the provisions relevant to the present actuarial valuation; d. demographic and financial projections for the status-quo situation based on the present legal provisions as well as for the reform options based on discussions with national counterparts; e. an assessment of the long-term financial sustainability of the NSSS with regard to the status-quo situation as well as to the reform options; f. a review of investment and financial operations; g. recommendations based on the projections and the financial assessments; and h. recommendations of the ILO for the further development of the actuarial and statistical capacities of the NSSI staff.

Project symbol

MOZ/12/01/MOZ

Admin unit

SEC/SOC

Start date

01/01/2012

End date

31/12/2014

Total allocation

107938

Total expenditure

Status

Closed

104995

Development Partners

Mozambique, National Social Security System

Country/Countries

Mozambique

Outcomes

Creating and extending social protection floors