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 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.

By putting the interest of the pensioner first, Abu Dhabi Pension Fund (ADPF) comprehensively redesigned its approach to serve its client base of over 91,639 active members, including 12,941 pensioners and 7,805 beneficiaries.

With a renewed focus on the client and by harnessing the power of digital transformation as well as adopting a product-based approach (versus project-based), ADPF has not only significantly improved how the services are orchestrated and offered to customers, but also achieved a satisfaction rate of over 83 per cent.

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.

In accordance with our organization’s strategic plan to provide pensionable services that enrich the customer’s experience, the Abu Dhabi Pension Fund (the Fund) launched in 2018 an initiative to provide all the customers’ informational and transactional services on mobile application. In line with ISSA Guidelines on Service Quality, Guideline 7.

It is more than a year now since we started applying preventive measures to control the spread of SARS-CoV-2, working from home, distancing in the offices, wearing masks in common areas, and all the other restrictions we applied like most other organizations globally.

Working in the private sector usually has greater financial benefits than the public sector. On one hand, the private sector employees are usually rewarded with higher salaries and benefits in the form of insurance coverage, vacation time and bonuses. On the other hand, the career advancement to higher position provides profit-sharing opportunities, which are not found in the public sector.

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).

Abu Dhabi Pension Fund (ADPF) has made great efforts to harnesses the latest digital solutions to provide a seamless service experience for customers as well as effective operations by developing the right ecosystem and provide our customers with a comprehensive range of services through one single point of access at any time and place.

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.

Fund Pulse is an institutional structure in which all the departments’ operational processes are grouped and linked to the requirements of the best practices, policies and methodologies, such as identifying the competencies required to implement the process, operational risks, performance management, business continuity, etc. This method provides a database that facilitates the decision-making processes for continuous improvement of operations. When a change is requested, it is easy to know the affected processes and the individuals affected by the change.

The adoption of data driven communication approach proves to have a great impact on performance and results in the private sector over the last decade. In contrast, most of the public sector organizations still depend on the traditional methods of communication even on the new online mediums like social media and mobile.

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.

Smart contributions is our latest smart service, which will contribute to a quantum transition in the way of managing and paying the monthly contributions by the employers on time, which will lead to fast pension service delivery to our customers, as this system will contribute significantly to monthly salary changes reporting, paying members, and employers’ contributions with the required accuracy and quality at the right time, and facilitate the timely settlement of customer pension benefit.

The Abu Dhabi Retirement Pensions and Benefits Fund (ADRPBF) performs the process of annual declaration by asking all pensioners and beneficiaries to visit the ADRPBF headquarters in order to confirm the terms of eligibility (or not) and to provide required documents from the courts, health authorities, universities and other entities.

“AV+”, a voluntary insurance (assurance volontaire – AV) management project, is the fruit of the shared determination of Mali’s National Social Insurance Institute (Institut national de prévoyance sociale – INPS) and SAER-EMPLOI, which joined forces to increase the number of people registered with a voluntary insurance scheme. This partnership was founded through the signing of a delegation of management agreement on 10 April 2017 and rendered effective through the creation of a company, SAER-EMPLOI-AV+/SASU.

The mission statement of the Abu Dhabi Pension Fund (ADPF) of the United Arab Emirates highlights a key priority to maintain financial sustainability in the provision of future benefits. To achieve that, the Fund regularly monitors its liability and identify different factors affecting it.

One factor identified to negatively impact liabilities was changes to pensionable salaries done by employers. The fund operates a Final Salary Defined Benefit (DB) system, which by definition can be vulnerable to such changes.

In 2010, the government of Mali introduced a compulsory health insurance scheme with third-party payment for civil servants and workers to guarantee affordable health care.

In 2011, the National Sickness Insurance Fund (Caisse nationale d'assurance maladie (CNAM)) concluded agreements with all public agencies, in particular with hospitals, referral health centres and community health centres.