SOCIAL SECURITY MEMBER FORUM
The Social Security Member Forum is responsible for support and development of actuarial practice in the area of social security.
For the purposes of this committee, “social security” encompasses all social transfers in kind and in cash that are typically organised by the state. Benefits include cash transfers, such as pensions, income grants, short term cash benefits (sickness, maternity, unemployment), as well as benefits in kind, such as health services.
Social security systems usually serve two basic functions:
- Alleviating poverty by providing a safety net to individuals facing destitution; and
- Maintaining income for individuals during periods of economic inactivity.
Social security enhances economic development by providing:
- Health services that improve the health of workers and their families and hence have an impact on productivity.
- Income replacement benefits that affect the income distribution and, inter alia, permit the maintenance of consumption levels for people during inactive phases of their lives.
- Anti-poverty benefits that help reduce poverty and maintain social peace, which is a crucial prerequisite for economic growth.
The objectives of the Social Security Member Forum are to:
- Actively support the development of actuarial practice in the area of social security through the Actuarial Society’s education, CPD, standard setting, public policy and research activities.
- Actively identify and promote opportunities for members working in the practice area and facilitate communication, discussion and liaison within the profession on relevant topics, and
- Contribute to the strategic direction of the Actuarial Society from the perspective of the practice area and, in so doing, to support the Actuarial Society brand of “thought leadership”.
The majority of members of the committee are required to be competent to contribute in the relevant practice area.
The committee members are as follows:
|Fatima Badat (Chair)
Natalie van Zyl (Deputy Chair)