The Impact of Parametric Reforms on Financial Decisions in Financing Long-Term Commitments

Subject Areas : Industrial Management

Hadi Farhadi ¹ (Employee of the General Office of the Social Security Organization of Hamadan Province)
Babak Jamshidinavid ² (Deputy for Management and Resources Development)
Mehrdad Ghanbari ³ (Department of Accounting,Kermanshah Branch,Islamic Azad University,Kermanshah,Iran.)
Rohollah Jamshid Pour ⁴ (Department of Accounting.kermanshah Branch.islamic Azad university.Kermanshah.Iran)

Received: 2021-04-05 Accepted : 2021-10-16 Published : 2022-02-06

Keywords: "Long-Term Commitments", "Actuarial", "Financing", "Parametric Reforms", "Financial decision making",

Abstract :

One of the reforms that has been considered in recent years regarding financial decisions in the payment of long-term liabilities is the balance of financial resources mechanism. When demographic risks, such as labor shortages and economic risks, such as financial deficits due to the functioning of financial markets and past rules and regulations, exist, financial decisions are made to maintain the liquidity and stability of the system in the long run. Long-term liabilities in payment to pension fund members require regular advice and calculations in different financial periods in order to balance and maintain the intergenerational reserves of the fund. The present study compares the parametric models effective in financial decisions to finance the long-term obligations of the Social Security Organization using actuarial knowledge in order to achieve the research objectives by changing the basic parameters and their impact on the organization's resources using knowledge. Actuaries and related computing software such as ILO-PENS We have estimated and then estimated their impact on the sustainability of the organization's resources over a period of 70 years for financial decision According to the results, if any of the above parametric corrections are applied to the series of resources of the Social Security Organization, respectively, up to years,2035,2036,2037 It is postponed and the necessary resources are provided to pay your long-term obligations. In this short break, there is ample opportunity to decide how to make structural reforms.

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