Risk Mapping for Social Security Pension Systems

Pension funds are entrusted with safeguarding the financial security of many individuals in retirement and play a crucial role in society. Mandatory social security pension schemes, designed to provide a safety net for the working population, can benefit from an additional layer of sophistication in their risk management systems. 
In this presentation, we introduce a proposal for a generalised Risk Management Framework for social security systems in order to address identified gaps in social security risk management. We interpret the general principles of ERM from the perspective of pensions as financial institutions and identify the intrinsic features of social security pension schemes that differentiate them. 
Still, it is recognised that risk management in pensions is basically a complex and challenging topic where further research is necessary.