Sixteenth Financial Position Valuation of the Public Institution for Social Security (PIFSS) and the Fourth Valuation of the Unemployment Insurance Fund

The International Labour Organization (ILO), through its Actuarial Services Unit, supports the Government of Kuwait and the Public Institution for Social Security (PIFSS) in reviewing the financial and policy foundations of the national social security and unemployment insurance systems. The project covers three parts: the Sixteenth Actuarial Valuation of PIFSS, an independent peer review of this valuation, and the Fourth Actuarial Valuation of the Unemployment Insurance Fund. The work provides an updated picture of the funds’ financial health as of 31 March 2025, assesses the adequacy of benefits, and identifies reform options to strengthen long-term sustainability. It also ensures that the schemes operate in line with international social security standards and national requirements. Capacity building forms an integral part of the project, with PIFSS staff engaged throughout the process to reinforce national expertise and ensure continuity. The results serve as the foundation for policy decisions that safeguard the financial sustainability and fairness of Kuwait’s social security and unemployment insurance systems.

Project symbol

KWT/25/01/KWT

Admin unit

SOC/ASU

Start date

02/11/2025

End date

01/11/2028

Total allocation

443208

Total expenditure

Status

Active

48826

Development Partners

Kuwait, Public Institute for Social Security

Country/Countries

Kuwait

Outcomes

Outcome 7: Universal social protection