Validation of the results of the actuarial study for the General Social Insurance Scheme as per Agreement with the Troika and Peer Review for the Actuarial Valuation of the GSIS as of 31 December 2012

Development objective: The project focuses on capacity improvement of the financial governance of the SIS. Immediate objectives: To provide: (a) technical advisory support on the validation of the General Social Insurance Scheme (GSIS) actuarial study, as per Troika's requirements, which would assess the long-term viability of the national pension system; and (b) a peer review of the in-house actuarial report of the GSIS. Outputs: - ILO validation note of the GSIS actuarial study, as per Troika's requirements - part of the MoU. - ILO peer review report of the GSIS 2012 Actuarial report, including recommendations on the improvement of the report and in-house capacities.

Project symbol

CYP/13/01/CYP

Admin unit

SEC/SOC

Start date

19/08/2013

End date

31/12/2015

Total allocation

11268

Total expenditure

Status

Closed

11268

Development Partners

Cyprus, Ministry of Labour and Social Insurance

Country/Countries

Cyprus

Outcomes

Creating and extending social protection floors