Perspectives of Social Security in Latin America and the Role of the Actuary
So the actuary should participate in this process using his scientific and technical training presenting Actuarial Valuations and Financial and Demographic Projections in accordance with international accounting standards and assessments that comprise the entire horizon of Cash Flows and Investments, identifying aspects such as actuarial deficit and critical situations in advance and allow Governance to start rebalancing processes on objective basis and interpreting the implications of present decisions .
The presentation will include an analysis of the evolution of the population of Latin America in general and in some specific countries, showing how has evolved and is projected the relationship between adults above retirement age and adults at working ages, and its implication in Social Security Programs.
Public Interest and Professionalism become an important issue in this aging context and the actuary has to work in accordance to the previous Guidelines of Actuarial Practice for Social Security Programs and the new International Standard of Actuarial Practice (ISAP -2) on "Financial Analysis of Social Security Programs" of the International Actuarial Association, and has to take into account the recent issue of the International Social Security Association about "Guidelines ISSA for the good governance of social security institutions", giving great importance to the accounting and actuarial function.
*Awarded Professionalism/Education Track Prize
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