Santiago, Chile - Agosto, 2009

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Presentation transcript:

Santiago, Chile - Agosto, 2009 OIT - Modelo Seguro de riesgos profesionales Santiago, Chile - Agosto, 2009 Santiago - Chile

Data requirements Base data Demographic and economic assumptions Statistical and economic structure of the pensioner and insured population in the base year. Observation of scheme experience on benefit amounts, insurable earnings and biometric data. Demographic and economic assumptions Results of relevant ILO models (population model, labour force model, economic model, wage distribution model) or equivalent data. Estimation of the insured population based on labour market forecasts. Santiago - Chile

Key outputs Key outputs Detailed outputs Key results disaggregated Total amount of insurable earnings and number of contributors. Total amount of benefit expenditure and number of benefit recipients. Projected income/expenditure statement. Contribution rates based on alternative financing systems. Detailed outputs Key results disaggregated By categories of benefits (newly awarded or total in payment) For permanent disability and death benefits only By group (sex, category) By age Santiago - Chile

Workflow of the actuarial valuation Defining the benefits to be evaluated. Determining and collecting the required data. Analyzing data, establishing assumptions and preparing input files of the model. Modifying the projection program and performing actuarial projections. Analysing and reporting the results of projections. Santiago - Chile

Models enable projections of future benefit expenditures and the contribution base through year-by-year simulations; determination of future contribution rates under alternative financing methods; simulation of the development of the reserves of the scheme; assessment of the financial impact of modifications to the scheme (e.g. proposed reforms). Santiago - Chile

The ILO model family Santiago - Chile

Main financial systems pay-as-you-go (PAYG) system full-funding method terminal funding method (also known as “assessment of capital constituents”) Santiago - Chile

Simulation of the IloPensEII model Santiago - Chile

Model structure 1. Permanent incapacity and survivorship benefits 2. In-kind benefits 3. Temporary incapacity cash benefits 4. Analysis, report and conclusion Santiago - Chile

Structure of the projection Santiago - Chile

Contents of the input files Santiago - Chile

Contents of the input files Santiago - Chile

Projection Contents of the projection file Module flow of IloPensEII Figure III.1.2, page 34 Module flow of IloPensEII Figure III.1.3, page 35 Santiago - Chile

Contents of the output files Santiago - Chile

Contents of the output files Santiago - Chile

Simulation of in-kind benefits Santiago - Chile

Simulation of in-kind benefits Santiago - Chile

Historical payments of in-kind benefits Santiago - Chile

Development factors Santiago - Chile

Graduated development factors Santiago - Chile

Reference payments Santiago - Chile

Projected payments related to injuries occurring after the valuation date Santiago - Chile

Factors used in the calculation of weighted average payments Santiago - Chile

Consolidated results file Santiago - Chile

Fund projection Santiago - Chile