Actuarial Review of the National Insurance Board of Trinidad

Executive Summary The conduct of the Tenth Actuarial Review (“the Review”) as at 30 June 2016 is primarily aimed at assisting the National Insurance Board of Trinidad and Tobago (NIBTT) in ensuring the long-term financial sustainability of the National Insurance System (NIS). The Review is mandated by statute and its report is a public document which serves to inform stakeholders of the current and projected financial status of the Fund. In addition, the project entails an assessment of the approved design of the NIS aimed at extending the coverage to the self-employed. The project covers actuarial valuation services for the old-age, invalidity, death, sickness and maternity benefts to be provided by the Actuarial Services Unit of SOCPRO (SOC/ASU) and employment injury benefits to be provided by the Actuarial Services of the Global Employment Injury Programme of the Enterprises Department (ENT/GEIP). Specific policy advisory services on employment injury benefits are included in the project. The project also aims at building up capacities among NIS staff, mainly on actuarial, statistical and legal principles relative to social insurance.

Project symbol

TTO/17/01/TTO

Admin unit

EMP/ENTERPRISE
SOCPRO

Start date

11/08/2017

End date

31/12/2019

Total allocation

156636

Total expenditure

Status

Closed

144147

Development Partners

Trinidad and Tobago, The National Insurance Board

Country/Countries

Trinidad and Tobago

Outcomes

Outcome 8: Comprehensive and sustainable social protection for all