التدفقات النقدية الخارجة وأثرها علي الاداء المالي دراسة حالة الصندوق القومى للتأمين الاجتماعي

Abstract

ABSTRACT Cash flow out & its aflect toward financial performance in NSIF is the base of this master which proposed imbalance between cash flow in & cash flow out which lead to increase in percentage of expenses from total income & it will lead toreaching break even point & then the stage of deficit in budget Raising of beneficiary expenses without actuarial studies & payment of extra benefits to some of the beneficiary that un determined in social insurance act may lead to financial trouble in the future also there is a huge amount of money unrecievable such as contribution arrears , unsettled investment, commutation during services & social investment all these reasons afiect negatively towards amount of cash flow in & so benefits External environment & internal environment aflect & affected by NSIF budget because the external political environment decide raising minimum amount of pensions & the economic environment ajj’ect through inflation then the social in a form pensioners & workmen NSIF ( NATIONAL SOCIAL INSURANCE F UND) problem in need to various solutions but eflectiveness of investment is the main solution to insure that NSIF have full exploitation of its opportunity cost towards reserve & unrecivable cash also to insure eflective return on payment From data analysis we know that no of average pensioners rose (ten times) as a result of changing period of qualzfi/ing natural death pension & occurrence of new risks & specialization has a main eflect. NSIF face financial problem in a form of exceeding the rate of managerial expenses determined in NSIF act as a result of failure of collecting all proposed cash flow which lead to increase _in managerial expenses percent compared to act rate (10%) then a new major trouble occurred in a form of beneficiary expenses that became an actual financial problem because beneficiary expenses equal 3.5 times managerial expenses so NSIF in need to solutions. Changes in cash flow out is in equivalent with increase in cash flow in because contributions was paid in stamps rates pensions paid according to medium amount of salary of the last year which is greater..than stamp rates. another trouble faced NSIF isuthe increase of minimum pension that became grater than minimum S0lt'Ilj' meanwhile pension formula determined to offer percent of last salary & the amount of paid pension equal 5 or 7 times the actual pension because (97.9%) of pensioners have additional amount to their actual pension which means occurrence of gab between actual pensions & minimum amount of pensions & this will lead to imbalance between cashflow in & cash flow out , the solution may be in a form of preparing studies before raising minimum amount of

pension & participation of government in additional payment to pensioners also investment of reserve for generation of money & financing of arising pensions or changing definition of salary to be gross salary instead of part of salary , determination of extra benefits finance . importance of practicing legal rules towards contribution arrears . investment in diflerent eflective programtnes to have sujficient currency such as service petrol & export , investment out of Sudan with Arabic & other countries through specialized companies . Performance of actuarial studies recommendations through financing of (75%) of beneficiary expenses from investment net revenue. Investment of reserve to insure eflective net present value of currency & fixed assets also it will lead to development of NSIF through generation of money another object is fulfillment of gab between value of contribution (25%) & value of pensions with range of (40 — 80%) of medium last year salary & to put in consideration the gab between actual pension & minimum amount of pension also one of investment goals protection of money flom eflect of inflation& balance between cash flow in & cash flow out to protect NSlFfi'0m technical deficit & actual deficit through generation of money. Investment through multi national corporation for production in Sudan & marketing in other countries also using technique of transfo- rmation of goods fi'0m half industriali:ed to full industrialized for improvement of net revenue & exploitation of natural resources endowment such as marble — granite — cement & water , investment in services as medical — computer - tourism & industrialization of meat & fish & estate investment (towers) - Recommendations to solve the trouble! Contribution of government i/1 financing raising minimum amount of pension) &. Transformation of insured persons & pensioners of the public sector & federal state to national pensions fund. I hope using of the study recommendation for solving problems before its occurrence