Social Security

ISSA Global Social Security Conference Features GAD Expertise

ISSA Global Social Security Conference Features GAD Expertise. The Government Actuary Department (GAD) showcased its expertise and insights at the 21st International Conference of Social Security Actuaries, Statisticians, and Investment Specialists in Mexico City.

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Table of Contents

Social Security Amidst Increased Risk and Volatility

The conference, themed ‘Sustainable and adequate social security in the context of increased risk and volatility,’ provided a platform for international experts to discuss critical issues facing social security systems.

Panel Presentation by GAD Senior Consulting Actuary, Chris Morley

As part of a distinguished panel of speakers, Chris Morley emphasized the pivotal role of illustrating risk in evaluating the sustainability of social programs. His presentation delved into recent examples from the UK social security system.

GAD Expertise in Assessing Short-term and Long-term Risks

Chris Morley showcased GAD’s prowess in modeling short-term impacts on the National Insurance Fund during the pandemic. He also discussed GAD’s 2021 Up-rating report, examining the effects of earnings volatility on the Triple Lock mechanism.

Long-term Assessments and Risk Illustrations

The presentation extended to long-term assessments, including the State Pension Age review and the Quinquennial Review, projecting insights 65 years ahead. Chris highlighted the importance of presenting actuarial analysis in a clear and bold manner.

Insights and Global Collaboration

Reflecting on the conference, Chris Morley expressed his gratitude for the warm reception of his presentation. He emphasized the value of meeting global actuaries, analysts, and statisticians, deepening his understanding of diverse challenges faced by social security systems worldwide.

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Conclusion

Chris Morley concluded by underlining the significance of sharing experiences to address economic and demographic challenges collaboratively. By presenting actuarial analyses in a simple yet impactful manner, GAD aims to contribute to informed decision-making for governments worldwide in the realm of social security.