Actuarial review of the operation of the National Insurance Scheme and the Chronic Diseases prescription Drug Fund

The Project focuses on the improvement of the social security system in the Bahamas through better financial governance and the operation of the NIS and the CDPDF. The immediate objective of the project is that the financial governance and sustainability of the NIS and the CDPDF operation is reinforced with a view to support provisions of social security benefits. Outputs of the project include: previous actuarial valuation review carried out to prepare for the actuarial valuation, past performance review through comparison of the previous projection result with the past experiences, actuarial database and scheme-specific assumptions updated and validated, actuarial projection developed and validated and endorsed by tripartite stakeholders and actuarial report drafted and submitted to the NIB.

Project symbol

BHA/14/01/BHA

Admin unit

SOCPRO

Start date

01/09/2014

End date

01/03/2016

Total allocation

78309

Total expenditure

Status

Closed

71067

Development Partners

Bahamas, The National Insurance Board

Country/Countries

Caribbean Islands

Outcomes

Creating and extending social protection floors