Risk management is the process of identifying, analysing, accepting, mitigating or transferring uncertainty in investment decisions. Fund managers apply risk management by analysing and attempting to quantify the potential loss of an investment and then acting accordingly.

Institutions are being transformed thanks to the integration of new technologies. This vision represents a corporate change with a social impact, reducing costs, simplifying processes and procedures, and raising awareness of the importance and benefits of this transformation.

Article 12 of Law No. 5508 on the Promotion, Protection of Maternity and Support for Breastfeeding establishes that maternity allowance should be paid to employed women by the social security scheme of Paraguay’s Social Insurance Institute (Instituto de Previsión Social – IPS). This amount is equivalent to 100 per cent of her salary at the time of delivery, and is paid for the prescribed months of rest. This used to be given to women in a single payment.

The State Social Insurance Agency (SSIA) of Latvia has introduced a new e-service “SSIA information and services” (hereinafter dashboard) in August 2022, which is available on the unified state and local government service portal www.latvija.gov.lv.

The issue of population growth and social security planning is one of the biggest challenges facing governments today, and is a key part of a good social security system that instils confidence in its members.

The Retirement and Pension Fund for Employees of Banks and Related Institutions (Caja de Jubilaciones y Pensiones de Empleados de Bancos y Afines) (Bank Fund, hereinafter) is in constant communication with its members. It therefore continuously updates its databases, in order to have a better understanding of members’ current realities, experiences and needs.

Digital transformation is happening in institutions through the integration of new technologies. This vision represents an institutional and social change, optimizing available resources, reducing costs, shortening processes and procedures, and raising awareness of the importance and benefits of this transformation.

Good practice in health – service quality.

As health-care systems have evolved to become more complex and due to the resultant increase in patients coming to harm in health care settings, patient safety has emerged as a health-care discipline.

The Actuarial Advisory Office (Asesoría Actuarial) of the Social Insurance Institute (Instituto de Previsión Social – IPS) carried out an actuarial valuation of the Common Retirement and Pension Fund (Fondo Común de Jubilaciones y Pensiones). The valuation looks to comply with international best practices and observe the guidelines and standards of the International Standards of Actuarial Practice 2 (ISAP 2), and the ISSA-ILO Guidelines on Actuarial Work for Social Security, with technical support from the International Labour Organization (ILO).

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.

Like most of the world’s countries, Paraguay has adopted lockdown measures to prevent the spread of COVID-19. These steps taken by the government have impacted the productive sector, leading to mass suspensions of employment contracts for persons insured with the Social Insurance Institute (Instituto de Previsión Social – IPS) of Paraguay.

Paraguay’s Social Insurance Institute (Instituto de Previsión de Social – IPS) used to make sick leave payments at its administrative offices, which had associated administrative costs and meant beneficiaries had to visit the IPS service counter in person.

The aim of the e-assistant is to create equal access to state and municipal services for all social groups, enabling everyone to receive services electronically. An e-assistant is an employee of the Local Government Unified Customer Service Centre (Service Centre), to whom the client entrusts to apply for the Latvian State Social Insurance Agency (SSIA) service in his/her own name.

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 September 2018, the State Social Insurance Agency (SSIA) in cooperation with the State Revenue Service (SRS) sent personalized letters to a group of people aged 18–42 using the SRS electronic declaration system (EDS). The letters contained information on each person's salary from which were made contributions in the previous year, as well as information on the length of social insurance and the retirement capital. The letters were followed with an information campaign. Based on its success, the SSIA plans to repeat the initiative.  

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.

Information is easily available: it facilitates people's interest in their social insurance situation and understanding of social security benefits.

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: