The International Actuarial Association (IAA) and the International Social Security Association (ISSA), the first Institutional Member of the IAA, executed a formal Memorandum of Understanding (MoU) in Geneva on September 23. Founded in 1927, ISSA is a non-profit international organization, which brings together institutions and administrative bodies involved in administering social security from countries all over the world. As the independent voice of social security, ISSA assists members and policymakers to face challenges and develop social security systems through platforms of cooperation and research, knowledge production and transfer and the promotion of social security at the international level.

The purpose of this MoU is to set out the terms of an agreement between IAA and ISSA that creates the framework for cooperation between the parties to benefit from common areas of activity in their respective strategies and operations. Key elements of the joint programme of cooperation include:

Organization of joint ISSA/IAA events
Exchange of information and publications
Participation in events organized by one of the parties
Organization and publication of joint studies
Representation in the relevant committees and working groups of each party

This MoU represents a continuation of outreach activities arising from the key objectives of the IAA Strategic Plan that include establishing, maintaining and extending cooperative relationships with major supranational organizations, with a particular emphasis on those areas where actuarial input is a significant factor influencing decisions on important social and economic issues with a global impact. This memorandum of understanding formalizes the mutual cooperation between the IAA and ISSA in a way that transcends the tenure of particular individuals involved in the relationship from time to time, and will ensure a continuation of the relationship independent of the tenure of key individuals.

To learn more about the work of the IAA in this area, contact the IAA Secretariat, care of the Chairperson of the Supranational Relations Subcommittee.