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

2. 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.
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3. 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
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4. 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.
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5. 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).
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6. The ILO model family
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7. Main financial systems
pay-as-you-go (PAYG) system
full-funding method
terminal funding method (also known as “assessment of capital constituents”)
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8. Simulation of the IloPensEII model
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9. Model structure 1. Permanent incapacity and survivorship benefits
2. In-kind benefits
3. Temporary incapacity cash benefits
4. Analysis, report and conclusion
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10. Structure of the projection
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11. Contents of the input files
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12. Contents of the input files
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13. 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
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14. Contents of the output files
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15. Contents of the output files
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16. Simulation of in-kind benefits
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17. Simulation of in-kind benefits
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18. Historical payments of in-kind benefits
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19. Development factors
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20. Graduated development factors
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21. Reference payments
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22. Projected payments related to injuries occurring after the valuation date
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23. Factors used in the calculation of weighted average payments
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24. Consolidated results file
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25. Fund projection
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