Financial Sustainability for Social Security

Course
Financial Sustainability for Social Security

+5255 5377-4740

inscripciones@ciess.org

ADMISSIONS AND REGISTRATION Online registration

Format: Face to face course

Language: Spanish / English

Level: Specialised

Duration: 40 hours

GENERAL OBJECTIVE

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.

SPECIFIC OBJECTIVES

  • Identify the types of social security benefits offered: short and long term.
  • Sketch a cost curve for short and long term social security benefits.
  • Discern the practical utility of pay as you go and capital accumulation systems.
  • Evaluate the operations of different financing systems over time, in accordance with profit and loss figures and Actuarial Balance Theory

BACKGROUNDS

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.

JUSTIFICATION

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.

UNIDADES TOPICS

  • Classification of social security benefits
  • Benefit cost curves
  • Short-term benefits
  • Long-term benefits
  • Benefits of professional risk insurance
  • Delivery systems
  • Capital accumulation systems
  • Annual results of operation
  • Actuarial Balance Theory

EDUCATIONAL MODEL

Lectures and theory-practice classes will be combined.

ASSESSMENT

An assessment and examination at the beginning and end of the course will be applied to measure the impact of the training.

STUDENT PROFILE

Workers or mangers at social security related institutions and academia interested in the topic.

WORKS CITED

  • Financing social protection / Cichon, Michael; Scholz, Wolfgang; Van de Meerendonk, Arthur; Hagemejer, Krzystof; Bertranou, Fabio; Plamondon, Pierre. — Switzerland: International Labour Office (ILO): International Social Security Association (ISSA), 2004. 663 p. (Quantitative methods in social protection series).
  • Modelling in health care finance: a compendium of quantitative techniques for health care financing / Michael Cichon; William Newbrander, Hiroshi Yamabana. — Switzerland: International Labour Office: International Social Security Association (ISSA), 1999. 376 p. (Quantitative methods in social protection series).
  • Social budgeting / Wolfgang Scholz; Michael Cichon and Krzysztof Hagemejer. — Switzerland: ILO: ISSA, 2000. 328 p. (Quantitative methods in social protection series).
  • Técnicas actuariales de la seguridad social; Regímenes de las pensiones de invalidez, de vejez y de sobrevivientes / Peter Thullen. — España: Ministerio de Trabajo y Seguridad Social (MTyPS), 1995. 532 p. (Colección Informes OIT 43).