Actuarial Valuation of the National Insurance Fund and Feasibility Study of Unemployment Insurance Scheme in St. Vincent and the Grenadines

This initiative supports the National Insurance Board of St. Vincent and the Grenadines through the ILO’s technical assistance in conducting the 13th Actuarial Valuation of the National Insurance Fund and a feasibility study on a permanent unemployment insurance scheme. The actuarial valuation reviews long-term sustainability, assesses the impact of recent pension reforms, ensures compliance with international standards, and builds local capacity through transfer of models and training. The unemployment insurance study analyses labour market conditions, legislation, institutional readiness, and stakeholder perspectives, while also providing cost assessments, policy guidance, and alignment with global standards to strengthen the country’s social protection framework.

Project symbol

VCT/25/01/VCT

Admin unit

SOCPRO

Start date

28/08/2025

End date

31/12/2026

Total allocation

163676

Total expenditure

Status

Active

47185

Development Partners

Saint Vincent&the Grenadines, National Insurance Board (NIB)

Country/Countries

Saint Vincent and the Grenadines

Outcomes

Outcome 7: Universal social protection