Session: 12

Social Security

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Summary

This session will start with Alejandro Ferreiro providing a critical assessment of how the defined contribution approach has worked in Chile. This is followed by critiques of the DB/DC approaches using some developing countries as examples. The speakers will provide insight on the reasons for the choice of the funding mechanism in their countries and the consequence of the choice. The emphasis is on innovative approaches used, and the problems encountered.

Juan Carlos Padilla and Rosa Maria Farell will focus on the Mexican solution. Yves Guérard and Stuart Leckie will provide insight into the Chinese approach. Joshua Bank will assess South America reforms. Michael Sze will analyze the pension reforms in the former Soviet countries, with special focus on Kazakhstan.

Session: 98

Plenary

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Summary

One of the greatest challenges for the profession in the 21st century is, undoubtedly, diversification. A session will be organized on Wider Fields. The topic to be discussed during this session is: in what other areas of economy or business (aside from the traditional ones) may we further the role of actuaries.

PROFESSIONAL BACKGROUND: Mr. Guérard graduated from the Université de Montréal in 1956 after obtaining both a B.A.and a B.Sc. (Math) degree. He is a Fellow of the Society of Actuaries, of the Canadian Institute of Actuaries and of the Conference of Consulting Actuaries. In 1990, he was awarded a Doctorate in Business Administration (honoris causa) by the Laurentian University. He has been member of the Council of the International Actuarial Association since 1986 and in 1998 was elected Honorary Overseas Member of the Institute of Actuaries of the United Kingdom. 

BUSINESS BACKGROUND: Chairman of Ernst & Young (Canada) Actuaries & Consultants Inc until 1999, Executive Partner of Ernst & Young from 1992 to 1996 and President of the Sobeco Group prior to 1992. From 1996 to 2001, Project Director for FISEK, a CIDA funded Technical Assistance project for financial sector reforms to strengthen the pension and insurance sectors, including the regulatory capacity of the Ministry and the enhancement of the governance and qualifications in the non-bank financial sector and the relevant professions . Fisek was implemented in cooperation with the Ministry of Finance in Indonesia, to which Mr. Guérard continues to provide support in relevant areas. 

FIELD OF EXPERTISE: Actively involved for over thirty-five years in the areas of actuarial services, life & health insurance, pension, employee benefits, social security programs, assets/liabilities management, risk management and information systems. Numerous clients in the private and para public sectors as well as governments, committees and other public institutions have retained his services for major assignments in his fields of expertise. His experience extends to negotiations, mergers and acquisitions, to the design or reform of systems to respond dynamically to changing fiscal, socio-demographic and regulatory constraints.

He has been called upon as consultant on social security, insurance, pension and benefits in Indonesia since 1985 and more recently in Bolivia, Cook Islands, China, Hungary, Kenya, Korea, Vietnam and Sri Lanka. 

CREDENTIALS: Honorary Chairman of the Institut Économique de Montréal, Chairman Emeritus of the Montréal Council for International Relations, President of the Québec-Indonesia Business Council, Member of the Board of the Institute for Research in Public Policy,. Member of the Board of Governors of the Canadian Chamber of Commerce and of its International Affairs Committee. He has been President of the Canadian Institute of Actuaries and of the Board of Trade of Metropolitan Montréal, Chairman of the Board of the Canadian Chamber of Commerce, Chairperson of the Scientific Committee,24th International Congress of Actuaries and member of various Boards and Committees such as the Economic Council of Canada, the Société Générale de Financement du Québec, Honeywell Ltd, the Senior Advisory Committee of the National Round Table on the Environment and the Economy, the Montréal Museum of Fine Arts, the Canadian Labor Market and Productivity Center and the Forum on International Trade Training.

VARIA: Co-author of "Building Private Pension systems: A Handbook" published in 1993 by the Institute for Contemporary Studies and the Harvard Institute for International Development. He has been invited as Lecturer in the Actuarial Magister Manajemen Degree Program at Universitas Indonesia and as speaker in Canada as well as in other countries such as China, Korea, Philippines, USA and Venezuela. In 1993, he has been conferred the Commemorative medal for the 125th anniversary of the Confederation of Canada by the Governor General of Canada. In 1997, he was chosen one of top 20 most influential pension professionals in Canada by Benefits Canada magazine.