Study on Alternative Policy Options for the Long-term Financial Consolidation of the Social Insurance Bank of Aruba

Building on the Actuarial and Financial Review of the social security schemes administered by the Social Insurance Bank of Aruba (Old Age Pension Scheme and Widows & Orphans Insurance) at 30 April 2003, the project will explore and recommend alternative policy options for the long-term financial consolidation of the Fund. Specifically, this will include updated demographic and financial developments; recommendations for a long-term financial strategy incorporating various reform options; assessment of options proposed by the social partners; an economic analysis that would specifically consider the impact of the reserves of the partially-funded system from a long-term development perspective; and other technical advice.

Project symbol

ARU/04/01/ARU

Admin unit

SOC/FAS

Start date

27/09/2004

End date

31/12/2007

Total allocation

31625

Total expenditure

Status

Closed

31625

Development Partners

Aruba, Social Insurance Bank of Aruba

Country/Countries

Aruba

Outcomes

Improve member State capacity to manage social security schemes and to implement policies focused on improving social security systems