Actuarial valuation, policy analysis and capacity building partnership with PERKESO

This project builds on the successes and legacy of the previous ILO–PERKESO project. Working together with the PERKESO actuarial team, the ILO undertakes a number of activities and produces deliverables that align with PERKESO's objectives in the areas of good governance, financial planning, and policy reform, while also ensuring compliance with its legal obligations. The ILO works closely with PERKESO to continue building internal actuarial and financing competencies to enable PERKESO to increasingly carry out such work independently in the future. The project is centered around three key outcomes. Firstly, the completion and delivery of actuarial valuations for four schemes. Full actuarial valuation reports, including key results and recommendations as well as references to compliance with ILO Convention No. 102, are produced. Secondly, the ILO provides a range of policy and technical support to PERKESO on issues including the extension of coverage (both of existing schemes and proposed new schemes), policy and financing reform, and management. Finally, there is a strong focus on capacity building, including the delivery of actuarial models for the various benefit schemes to enable PERKESO to conduct its own actuarial analyses, along with tailored training on actuarial work, financing, risk management, and coverage extension.

Project symbol

MYS/25/01/MYS

Admin unit

RO-Asia and the Pacific

Start date

20/03/2025

End date

31/03/2030

Total allocation

189999

Total expenditure

Status

Active

116052

Development Partners

Malaysia, Ministry of Human Resources, Social Security Organization

Country/Countries

Malaysia

Outcomes

Outcome 7: Universal social protection