Financial Sustainability for Social Security
Analyse and evaluate the basic financing systems for social security benefits and their various elements, as well as their practical applications in accordance with the benefits there are to finance.
The CIESS recognizes as a fundamental issue, the financial sustainability in the short, medium and long term, of the institutions that provide benefits for social security, for which it offers an activity focused on analysing the financing systems of these systems, as well as its usefulness according to the characteristics of the benefits to be delivered.
According to Carmelo Mesa-Lago in his document: “Pension reforms in Latin America and its impact on the principles of social security”, which defines the taxonomy currently used when talking about pensions and the social security benefits which are the most difficult to, these can be classified according to various characteristics, such as: who manages them or the financing system that aims to give them financial sustainability.
In any event, it is considered that there is only two types of financing systems: pay as you go or capitalization, these understood to be synonyms of definite or solidary benefit and definite contribution or individual accounts.
However, according to specialty literature on the subject, it has been recognized that both pay as you go systems and the capital accumulation systems have more than one aspect, resulting in a range of five variants of financing systems: pure distribution, distribution of hedge capital, general average premium, staggered average premium and individual capitalization; which can coexist and give financial sustainability to social security institutions, in the short, medium and long term, which can be proven after the presenting of annual budget analyses and actuarial balance sheets.
Lectures and theory-practice classes will be combined.
An assessment and examination at the beginning and end of the course will be applied to measure the impact of the training.
Workers or mangers at social security related institutions and academia interested in the topic.