Fourteenth Actuarial Review of the Social Security and Redundancy Funds as of 31 December 2020

Executive Summary The conduct of the Fourteenth Actuarial Review of the Social Security and Redundancy Funds, as of 31 December 2020 is primarily aimed at assisting the Board in ensuring the long-term financial sustainability of the Fund. The Actuarial valuation is mandated by statute and its report is a public document that serves to inform stakeholders of the current and projected financial status of the Fund. The project covers actuarial valuation services for the old-age, invalidity, death, sickness and maternity benefits 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). The review will also include an update of the previous analysis about the compliance with the ILO Convention No 102 to support its ratification process started in 2018. The overall coordination of the project and policy advice will be the responsibility of the ILO Decent Work and Office for the Caribbean.

Project symbol

DMA/21/01/DMA

Admin unit

DWT/CO-Port-of-Spain

Start date

07/04/2021

End date

06/10/2022

Total allocation

93094

Total expenditure

Status

Closed

67326

Development Partners

Dominica, Social Security

Country/Countries

Dominica

Outcomes

Outcome 8: Comprehensive and sustainable social protection for all