IAA Council Meeting in Nassau features IDB presentation

The International Actuarial Association (IAA) held its semi-annual Council and Committee meetings in Nassau from November 14-18, concurrently with the Annual Conference of the Caribbean Actuarial Association (CAA), one of its Full Member Associations.

The Council meeting held on November 18 featured guest speaker, Mr. Ángel Melguizo, Lead Specialist of the Labor Markets and Social Security Unit of the Inter-American Development Bank (IDB).

His presentation highlighted several pension related issues in Latin America including low pension coverage, labour market distortions, the expansion of non-contributory benefits, and insufficient studies and estimates amongst others. “There are, still, too many known unknowns that limit the effectiveness of policy-making and advising”. He highlighted the need to build actuarial capacity in pension-related institutions and to strengthen fiscal frameworks.

The IAA proposes to follow-up on some of these issues and to explore areas where a greater collaboration between the two organizations would be of mutual benefit.

This event supports the IAA’s Strategic Objective 1 that aims to strengthen relationships with key supranational audiences and provide them with actuarial input to improve the soundness of decisions being made on issues with global impact. To learn more about the work of the IAA, please contact the Manager, Supranational Relations at the IAA Secretariat.