The objective of this course is to introduce students to the basic methods which actuaries apply in the actuarial valuation of social
security schemes, and related financial estimates.
Actuaries are required to deal with complex demographic, economic, financial, institutional and legal aspects that all interact with each other. Within this framework, projections into the future are delicate balances in demographic, economic, financial and actuarial fields. This exercise requires the handling of reliable statistical data, the formulation of prudent and safe, though realistic, actuarial assumptions and the design of sophisticated models to ensure consistency between the objectives and the means of the social protection scheme. Introducing basic actuarial methods to evaluate and formulate financial policies in social securities are issues that often retain their complexities at the national level. This course teaches basic actuarial methods to conduct actuarial valuations of a social protection system while always linking the theory to the application.