About this Module
What you will learn
Course Topic Description The Role of Actuaries in Social Security Actuaries play a vital role in designing, managing, and sustaining social security systems that safeguard individuals and communities against life’s uncertainties — from retirement and unemployment to disability and healthcare costs. This course introduces you to the core responsibilities of actuaries in social security through practical and interactive modules. You will explore how actuaries apply mathematics, statistics, economics, and policy insights to ensure that social protection schemes remain fair, affordable, and sustainable for generations to come. Subtopics Covered The Valuation of a New Scheme – Learn how actuaries calculate contributions, benefits, and long-term financial soundness when designing a new program. Periodic Review of an Ongoing Scheme – Understand how regular evaluations help keep systems sustainable and responsive to demographic and economic changes. Actuarial Considerations at the Reform Stage – Explore how policy reforms (e.g., retirement age, benefit adjustments) are analyzed for fairness and financial impact. Short-Term Projections – Develop skills to project income, expenditure, and balances over the near term for decision-making. Ad-Hoc Actuarial Support & Related Fields – Discover additional areas where actuaries contribute, such as health insurance costing and unemployment protection. Organization of Actuarial Services – Learn about the institutional and governance structures that ensure effective actuarial input in social security administration. Learning Outcomes (TLOs) By the end of this course, you will be able to: Explain and value new social security schemes Review, project, and reform ongoing schemes Provide support and organize actuarial services This topic will prepare you to think like an actuary balancing numbers with people’s needs, ensuring that social security systems remain robust, fair, and future-proof.
What skills you will gain
By completing this course, you will develop the following skills: Actuarial Valuation Skills – Ability to value new social security schemes (contributions, benefits, sustainability). Analytical & Projection Skills – Conduct short-term and long-term financial projections. Scheme Review Skills – Assess and review ongoing schemes to ensure sustainability. Policy Reform Analysis – Evaluate the financial impact of changes such as retirement age or benefit levels. Ad-Hoc Advisory Skills – Provide actuarial input in pensions, health insurance, and unemployment schemes. Organizational & Governance Insight – Understand how actuarial services are structured and managed in social security systems. Problem-Solving & Decision Support – Apply actuarial tools to guide policymakers and institutions. ✨ These skills will equip you to think like an actuary in social security, balancing numbers with people’s needs to create fair and sustainable protection systems.
Total contents and assessments
Formative Quizzes (30%): 6 quizzes (~5 Qs each). Case Study / Reflection (20%): Final Assessment (50%):
Module Details
CLUSTER : Science & Technology ( ST ) MODE/DURATION : Flexible LENGTH : 7 days EFFORT : 4 LEVEL : Beginner LANGUAGE : English CERTIFICATE : Yes CPD POINT : 0 PRICE : Free Associated Course (s) : No Course