The social security institution considers the principles and minimum benchmarks of social security contained in the ILO social security standards (conventions and recommendations), as a foundation to generate policy recommendations.

The financial and fiscal sustainability of social security systems represents a major concern for stakeholders and one of the main objectives of actuarial analysis. The principle of financial sustainability established by ILO social security standards is complemented by other important principles detailed below that are equally foundational in designing and implementing social security systems and schemes.

It is the responsibility of the State, including through the national social security institutions, and of the social partners involved in tripartite dialogues (workers’ representatives, employers and governments), to ensure that the social security schemes are administered properly and duly provide the benefits guaranteed by statutory provisions, as well as, to progressively ensure universal social protection, including by commissioning the necessary actuarial studies to this effects. National legal frameworks should take into account and, where ratified, abide by the principles and minimum benchmarks established by ILO social security standards. The work of actuaries is essential in assessing the impact of both the design of new schemes and proposed adjustments and reforms to existing schemes. This guideline should be read in conjunction with Guideline 37 (Compliance with regulatory requirements) and the rest of the guidelines in Section G, Policy and Strategy Issues).