2026-07-01http://hdl.handle.net/123456789/412540This report briefly summarizes the results for the analysis of the design, financing and administrative processes for a national social security system covering all salaried workers in Timor-Leste, including analysis of the actuarial report (ACL Report) prepared for the Directorate General of Social Security by its consultant. The report is divided into seven sections: (i) Scope of Work; (ii) ACL Report Assumptions and Methods Comment; (iii) ACL Plan Design Comments; (iv) PROST Analysis: ACL Report Design, Assumptions and Methods; (v) PROST Analysis: ACL Report Design, Bank Assumptions and Methods; (vi) Social Security Pension Fund Establishment; and (vii) Conclusion. In the final analysis it was determined that the ACL report does not meet international standards for actuarial reports for national social insurance systems. Furthermore it misrepresents the long-term costs of the proposed Timor-Leste national social security system by using non-standard assumptions and methods and an unusually short analysis period. It is suggested that the government of Timor-Leste carefully consider all aspects of design and funding before adopting the new system, as the decisions made will have very significant macroeconomic, labor market, budget, and social policy implications for the country for decades to come.application/pdftext/plainCC BY 3.0 IGOhttp://creativecommons.org/licenses/by/3.0/igo/ACCRUAL RATEADMINISTRATIVE COSTSBANK OFFICEBANKRUPTCYBENEFICIARIESBENEFICIARYBENEFIT PAYMENTBENEFIT PAYMENTSCASH FLOWSCHILD SUPPORTCITIZENCITIZENSCONTRIBUTION COLLECTIONCONTRIBUTION RATECONTRIBUTION RATESCORRUPTIONCOST ESTIMATESDEFINED BENEFITDEFINED BENEFIT PLANDEMOGRAPHIC CHANGESDEPENDENCY RATIODEPENDENCY RATIOSDEVELOPING COUNTRIESDISABILITYDISABLEDECONOMIC DEVELOPMENTEMPLOYERSEXPENDITURESFAMILIESFERTILITYFERTILITY RATESFINANCIAL ANALYSISFINANCIAL STABILITYFRAUDFULL DISCLOSUREINFLATIONINTERNATIONAL STANDARDINTERNATIONAL STANDARDSLABOR FORCELABOR FORCE PARTICIPATIONLABOR MARKETLARGE FAMILIESLIFE EXPECTANCYLONG-TERM COSTLONG-TERM COSTSMATURITYMINIMUM BENEFITMORAL HAZARDMORTALITYOLD AGEPAYROLL COSTSPENSIONPENSION BENEFITSPENSION FUNDPENSION FUND ASSETSPENSION FUNDSPENSION PROGRAMSPENSION SCHEMEPENSION SYSTEMPENSIONABLE EARNINGSPENSIONERSPENSIONSPOLICY IMPLICATIONSPOPULATION PROJECTIONSPRIVATE PENSIONPRIVATE PENSION FUNDSRATE OF RETURNREAL INTERESTREAL INTEREST RATERESERVESRETIREMENTRETIREMENT AGERETIREMENT BENEFITSRETIREMENTSSANITATIONSEXSOCIAL INSURANCESOCIAL INSURANCE SYSTEMSSOCIAL PENSIONSOCIAL PENSIONSSOCIAL POLICYSOCIAL PROTECTIONSOCIAL SECURITYSOCIAL SECURITY SYSTEMSPOUSETAXUNEMPLOYMENTUNEMPLOYMENT RATESVALUATIONVALUATIONSWILLWIVESYOUNG AGEYOUNG CHILDREN