Inadequate minimum old-age pensions and insufficient social security contributions were the challenges that the Social Security Fund (SSF, hereafter the Fund) of Libya had to overcome by consulting the Libyan Centre for Research and Actuarial Studies, which resulted in an increase in the contributions rate from 15 per cent to 20.5 per cent, thus enabling the Fund to raise the minimum old-age pension by 100 per cent.

As known, the major crisis that the Social Security Fund (SSF) of Libya works in has been creating challenges that we still face and deal with through performing our social obligation to the fullest in harmony with our mission towards society.

Our efforts are clearly reflected in consolidating country and giving hope to all Libyans that there is a great opportunity to reunite again. Accordingly, this is a prime example when we have been bringing all parties to meet at the same table, despite their divergent political views.

In early 2012, the Libyan Centre for Consultancies and Human Development (LCCHD, hereafter the Centre) was assigned to carry out the task of conducting the annual Training Needs Assessment (TNA) and delivering quality training for all Social Security Fund (SSF) employees across Libya.

The Social Security Fund (SSF) of Libya is seeking to ensure its investments and assets, creating psychological and social stability for its employees from operational risks, and transferring these risks to insurance companies to address them accordingly.

Through this participation, we aim to clarify the idea of establishing the Libyan Centre for Research and Actuarial Studies, and the procedures that the administration followed in refining and qualifying human cadres in the fields of social protection, social research, and actuarial studies.

Training is a key element for any organization striving to prepare cadres capable of meeting business needs and keeping abreast of the rapid developments and changes in the field of work. It is also considered one of the various means of investment that benefits the Social Security Fund (SSF, hereafter the Fund) of Libya.

Achieving software and data independence and limiting the reliance on external service providers in the field of information and communication technology, are crucial to maintain the continuity and facilitating social security tasks and procedures regarding benefits and compliance, particularly during the crises that Libya experienced.

As known, the major crisis that the Social Security Fund (SSF) of Libya works in, which has been creating challenges that we are still facing and dealing with through performing our social obligation to the fullest in harmony with our mission towards society.

Our efforts are clearly reflected in consolidating the country and giving hope to all Libyans that there is a great opportunity to reunite again. Accordingly, this is a prime example when we have been bringing all parties to meet at the same table, despite their divergent political views.

Due to the transformation of thousands of contributors to beneficiaries who receive cash benefits and pensions, unemployment among recent graduates from universities, and the large geographical area of Libya, it has therefore become essential for the Social Security Fund (SSF, hereafter the Fund) to establish new service facilities in order to provide services, deploy and utilize the youth, reduce the gap between contributors and insured persons, as well as motivate all sectors to produce decent jobs for young people.

Despite the major crisis that the Social Security Fund (SSF) of Libya is working in and the challenges it creates, we continue to perform our social obligation to the fullest in harmony with our mission towards society.

Our efforts are clearly reflected in consolidating the country and giving hope to all Libyans that there is a great opportunity to reunite again. Accordingly, a prime example is when we bring all parties to meet at the same table, despite their divergent political views.

Persisting in strengthening the Libyan Social Security Fund (SSF)’s financial position and achieving financial sustainability is our duty. The implementation of our mission is to fulfill the rights of the insured persons in a way that protects the dignity of Libyans and makes them feel satisfied with our services while preserving economic stability and social security, reaching our goal of activating institutional performance and developing work methods according to the use of institutional excellence practices.

After incorporating all social insurance systems represented in the civil service retirement, military service retirement, and the free social pension systems under one title and organization, namely, The General Committee of Social Security, and after the return of all the assets and properties of these systems to the mentioned commission, all of which has emphasized the financial status of the commission to result in owning strong financial assets and returns. As a result, the serious need to find various investment channels arose.

We passed through several stages of development, including the measures to expand the coverage, which can be summarized as follows: