ILO SOCSO 11th actuarial valuation

Actuarial Valuation

This page of the Workspace details progress in the actuarial valuation and related training and knowledge transfer activities.

The two key outputs under this part of the project are 

1.1. Undertaking and delivery of the eleventh actuarial valuation

1.2 Transfer of the calibrated ILO valuation model to SOCSO together with the delivery of a manual and training

The key activities are set out below with estimated timeframe

1.1.1      Data collection based on the data requirements of the previous valuation amended as required to reflect needs for this valuation. September – December 2020

1.1.2      Initial fact-finding phase including request for information (possible workshop). Note on reform and extension options produced. November 2020 – February 2021

1.1.3      Actuarial database built up  and scheme-specific assumptions developed. Output is a summary of data and actuarial assumptions. January – March 2021

1.1.4      Actuarial projections produced (demographic and financial over the projection period) and draft actuarial valuation report produced.  March 2021 – May 2021

1.1.5      Finalisation and presentation of the final actuarial report. June to October 2021

1.2.1.    ILO model developed and tailored to SOCSO. December to April 2021

1.2.2     Manual developed and delivered. Second or third quarter 2021