Second Actuarial Valuation of the Workers Compensation Fund of Tanzania

The project aims at providing the second actuarial valuation of the Workers Compensation Fund of Tanzania. (WCF), namely the assessment of the current WCF contribution rate of 0.6% for private-sector workers and 0.5% for civil servants. This project delivers several outputs, the key one being the actuarial valuation report outlining the financial projections and the assets and liabilities under the current benefit, contributions, and eligibility conditions. The project formulates recommendations to ensure long-term financial sustainability, extend coverage and strengthen benefit adequacy by considering the financial impact of policy changes. The project contributes to building actuarial capacity of the WCF staff through provisions of the actuarial model calibrated by considering policy changes already made and trainings on data formats and analysis, setting assumptions and the structure of the model.

Project symbol

TZA/22/01/TZA

Admin unit

SOC/PFACTS

Start date

24/06/2022

End date

31/07/2024

Total allocation

142785

Total expenditure

Status

Closed

138897

Development Partners

Tanzania, Workers Compensation Fund

Country/Countries

United Republic of Tanzania

Outcomes

Outcome 7: Universal social protection