Peer review of the Twelfth Actuarial Valuation of the Kuwait Public Institution for Social Security (KPIFSS)

The financial governance of the social security system of Kuwait benefiting all workers and their families will be strengthened. The project is directly linked to the ILO 2010-15 Strategic Objective: “Enhance the coverage and effectiveness of social protection for all; and more specifically to its Outcome on social security: More people have access to better managed and more gender equitable social security benefits and linked to its governance Indicator 4.3: Number of member States that, with ILO support, improve the legal framework, general and financial management and/or tripartite governance of social security in line with international labour standards.” The project will also contribute to Kuwait Country Programme Outcome KWT125 - “Improving the Social Security System”. This peer review not only examines the financial sustainability of the social insurance pension scheme of Kuwait but also looks into a broader issue of the design adequacy of the social insurance system, notably on the coverage and adequacy of benefits including the gender equity of social security benefits. Therefore, this project contributes to the establishment of the social insurance scheme which provides gender equitable social security benefits.

Project symbol

KUW/13/01/KUW

Admin unit

SOCPRO

Start date

01/03/2014

End date

31/12/2015

Total allocation

162248

Total expenditure

Status

Closed

162248

Development Partners

Kuwait, Public Institute for Social Security

Country/Countries

Kuwait

Outcomes

Social Security