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Pension
Commitments Valuation
Analysis
of current pension plans:
- analysis
of the pension plan structure (retirement benefits, death, disability…)
- analysis
of the anticipated trend in pension costs
- analysis
of the current vehicles for funding the pension plan (internal
scheme, group insurance contract, pension funds…)
Actuarial
quantification of the deferred social commitments and the necessary
reserves :
we calculate
the annual pension obligations in compliance with the company's
collective agreement and the amount of annual allocations due
to the insurance company. In some countries such a quantification
is required by the law; for example, the so-called " indemnités
de fin de carrière " in France, a country in which
the Gecalux Group is retained by several companies to calculate
their reserves for retirement benefits.Benefiting from an independent
and objective actuarial calculation gives you better control of
the annual allocations in accordance with the obligations of the
company.
Such
an analysis provides an overview of the currently implemented pension
scheme and enables you to maintain better control over future cost,
to assess the level of risks borne by the employer and to preserve
guaranteed benefits for employees, even in case of bankruptcy.
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Pension
Schemes Design and Re-engineering
- Analysis
of the objectives and situation of the company.
- Research
into the optimal design for the scheme : Defined Benefits, Defined
Contributions, etc.
- Conversion
of the existing pension schemes
- Identification
of the most appropriate vehicles for funding the pension plan
: internal scheme, group insurance, pension fund, etc.
The
implementation of a tailor-made pension scheme improves the stability
and control of expected future costs. A structure of this kind will
also upgrade the pension benefits granted to employees and consequently
enhance their contribution to the group's objectives and strategy.
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Pension
Funds Feasibility Study
For companies
wishing to establish their own pension fund , we provide help in:
- analysing
the group structure and pension scheme(s)
- identifying
the appropriate pension fund in relation to the supplementary
pension plan and employee population targeted
- analysing
the pension fund cost structure
- reviewing
the risk structure (technical risks, insolvency risks…)
- identifying
the optimal financial and (re)insurance cover
- evaluating
legal and statutory provisions
- analysing
financial requirements and investment strategies.
The
creation of a pension fund helps companies to stabilize the costs
of their current pension schemes by enhancing the pension fund's
asset management and centralizing risk management.
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