September 2026
FINACTU confirms the strong actuarial position of Burkina Faso’s Autonomous Civil Servants’ Pension Fund (CARFO), following a new actuarial study, further strengthening its leadership in support of social protection across the continent
Following an international call for tenders, FINACTU’s team was selected by Burkina Faso’s CARFO to assess the impact of implementing Law No. 003-2021/AN of the 1st of April 2021 on the social security scheme applicable to State public officials, which transfers new categories of public officials to the Fund, improves existing benefits and introduces new ones.
FINACTU’s study demonstrates that CARFO is very well managed and therefore provides State public officials in Burkina Faso with a financially sound and robust scheme, combining a technical surplus (contributions are more than sufficient to finance benefits) with a positive net result. CARFO also demonstrates a leading level of compliance with the prudential and financial and economic management ratios defined by CIPRES.
Thanks to ATLAS©, its actuarial software, FINACTU’s team was able to model CARFO’s schemes and assess their future prospects. The analysis shows that demographic trends will weigh on the Fund’s financial position, with benefits expected to increase much faster than contributions over the next 50 years. These developments were expected to result in CARFO recording an overall deficit by 2050. FINACTU’s study also shows that the reform introduced by the new Law of the 1st of April 2021 improves the situation in the short term (over the next two decades) but worsens it thereafter.
FINACTU was able to formulate recommendations aimed at ensuring CARFO’s financial balance over the next 50 years.
Lossani ZINA, Associate Director at FINACTU, welcomed the findings: “Once again, CARFO is safeguarding the financial and economic security of the social security scheme for State public officials in Burkina Faso. The results of this actuarial study clearly show that the scheme’s solvency will be ensured in the future. FINACTU’s teams are proud to have highlighted these encouraging conclusions and thus to have played our part in advancing the modernization of social protection in Burkina Faso”.
