What Factors Affect Actuarial Salaries?

Social security actuarial is to ensure the smooth operation of the social security system. Based on social security theory, it uses the basic methods of actuarial science and commercial insurance actuarial science to analyze social security risks, quantify social security related indicators, and provide a reference for social security departments to make decisions. An applied discipline based on (decision support).

Social Security Actuarial

Right!

Social security actuarial is to ensure the smooth operation of the social security system. Based on social security theory, it uses the basic methods of actuarial science and commercial insurance actuarial science to analyze social security risks, quantify social security related indicators, and provide a reference for social security departments to make decisions. An applied discipline based on (decision support).

Chinese name

Social Security Actuarial

Foreign name

The social security Actuary

Service area

society

Function

Ensuring the smooth operation of the social security system

(1) Main contents of actuarial calculation of social endowment insurance ^[1]

Social security actuarial development was developed on the basis of commercial insurance actuarial. Therefore, this section analyzes the relationship and difference between social security actuarial and commercial insurance actuarial. ^[1]

1. The link between social security actuarial and commercial insurance actuarial

First, the theoretical basis is the same. Because actuarial science is the common theoretical foundation of actuarial calculations of commercial insurance and social security, the basic principles of actuarial calculations of commercial insurance and social security are the same, such as interest theory, population theory, and risk theory.

Second, the technical methods are similar. Risk and the losses caused by it are the research contents of social security actuarial and commercial insurance actuarial. They use the evaluation of risk to calculate the risk loss and future payment liabilities. In the process, they need to use probability theory, mathematical statistics, and other disciplines. related information. Therefore, the technical methods of the two are similar in many ways.

2. Difference between social security actuarial and commercial insurance actuarial

First, actuarial purposes are different. Commercial insurance is for profit. Therefore, the actuarial calculation of commercial insurance needs to make an estimate of the profitability of commercial insurance companies. When formulating insurance rates and payment standards, it is necessary to ensure that the commercial insurance companies have a certain surplus. And social security is to protect the basic life of citizens, and does not aim at profit. Therefore, the main purpose of social security actuarial calculation is to protect the balance of income and expenditure of the fund and promote the stable operation of the social security system.

Second, the calculation method is different. The insurance object of commercial insurance is uncertain. Participants can choose different insurance items according to their own needs, and they can also choose different commercial insurance companies according to their own preferences. The social security system is enforced by the state, and those who meet the conditions for participation must participate. Due to the different characteristics of the insured population, there are differences in the method of constructing the life table on which commercial actuarial and social security actuaries depend, and the specific calculation methods are also different.

Third, the collection and management of insurance premiums are different. Commercial insurance premiums are generally determined by the insurance situation and are borne by individuals and managed by profitable financial institutions; social insurance premiums are generally set by the state in a unified rate, shared by individuals, the state, and enterprises. Non-profit management The agency is responsible for management.