9th Actuarial Review of the National Insurance Scheme as at 31 December 2016

The conduct of the 9th Actuarial Review of the National Insurance Scheme (NIS) as at 31 December 2016 is primarily aimed at assisting the Board of the NIS in ensuring the long-term financial sustainability of the Scheme. The Actuarial valuation 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 Scheme. The project covers actuarial valuation services for the Long-term benefits branch (old-age, invalidity and constant attendance benefits, survivors and funeral benefits) and the Short-term benefits branch (sickness, maternity and sickness benefits) to be provided by the Actuarial Services Unit of the Social Protection Department (SOC/ASU) and the Industrial benefits branch (injury, disablement and death benefits) to be provided by the Actuarial Services of the Global Employment Injury Programme of the Enterprises Department (ENT/GEIP). The Social Policy Unit (SOC/POL) of SOCPRO will also support the project for final clearance on conclusions and policy recommendations.

Project symbol

GUY/17/01/GUY

Admin unit

DWT/CO-Port-of-Spain

Start date

19/12/2017

End date

30/09/2019

Total allocation

154638

Total expenditure

Status

Closed

132528

Development Partners

Guyana, National Insurance Scheme

Country/Countries

Guyana

Outcomes

Outcome 8: Comprehensive and sustainable social protection for all