Abstract
The ILO Pension Model (ILO-PENS) is a projection model used for the actuarial valuation of pension schemes. It provides actuarial estimates of future expenditure and contributions base, and it simulates the future development of the fund under different financing methods. ILO-PENS forms a part of the ILO model family for quantitative financial analysis, with the objective of providing comprehensive perspectives in a consistent manner under certain national economic circumstances.