Actuarial valuation of the Public Servants’ Social Security and the Private Organization Employees’ Social Security schemes at 31 December 2019

AGREEMENT BETWEENTHE GOVERNMENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA AND THE INTERNATIONAL LABOUR ORGANIZATION WHEREAS, the Government of the Federal Democratic Republic of Ethiopia, represented by the Ministry of Finance (Government), and the International Labour Organization, represented by the International Labour Office (ILO) (the Parties) have agreed to cooperate in the execution of a project (Project) entitled: Actuarial valuation of the Public Servants’ Social Security and the Private Organization Employees’ Social Security schemes at 31 December 2019 – (ETH/20/06/ETH); Executive Summary A review of the current financial situation of the schemes as well as an actuarial valuation of the status-quo situation of the social security schemes will be carried out. As part of the actuarial valuation process, a team of international expert will provide the necessary support to extract the data required and to provide support to build a database that will ensure proper financial disclosure of the schemes. Based on the observations, a set of reform options of the schemes and actuarial assessments of the reform options will be presented to ensure their long-term financial sustainability.

Project symbol

ETH/20/06/ETH

Admin unit

SOCPRO

Start date

06/11/2020

End date

31/10/2021

Total allocation

134715

Total expenditure

Status

Closed

124710

Development Partners

Ethiopia, Ministry of Finance

Country/Countries

Ethiopia

Outcomes

Outcome 8: Comprehensive and sustainable social protection for all