Public and private pension plans enable our clients to achieve goals that are important to their lifestyles and well-being.
Depending on the person’s needs and his/her cultural values, a public retirement salary may be satisfactory. Others are looking for private, higher rates of retirement packages. Worldwide, employers understand the variety of needs and continue to attract employees by offering generous retirement packages.
Because of their long-term nature, all employee pension benefit packages require continuous monitoring. Regulation rules and guidance have been established to achieve this, and often point to actuaries as the leaders who are most capable of and equipped to perform important roles in monitoring and evaluation.
Estimating current and future pension liabilities is a critical and ongoing process for all pension packages. We report our best estimates in pension funding ratios to our clients, accompanied by projections for all future cash flow (liabilities and assets). This helps our clients to assess the solvency of the scheme and take recommended actions to make sure the scheme is at least fully funded (to a ratio of 100%).
Pension schemes require continuous funding and monitoring to cover current and future beneficiaries. At TASC, we help our clients to determine the minimum funding required to achieve their financial goals. This can be in the form of the minimum contribution rates as required by either (or both) the employee and employer.
3
We help our clients to manage and match assets to liabilities. Through the models and approaches we develop, our clients not only benefit from maximizing assets and minimizing required capital, they also benefit from expecting stable cash flow year-over-year.
Financial institutions have an interest in understanding their risks (day-to-day and future), as well as how to manage them. Through our models, which run scenario and stress tests, our clients (including insurers) benefit from a clear idea of the significant challenges they confront and how best to manage them.
Are you looking for a scheme actuary who can perform all of the above services, while meeting regulatory requirements? Many pension funders (both public and private) are required, by law, to submit an actuarial valuation report every year or two. In either case, you will save time and money by working with us.
Do you intend to develop a new pension or end-of-service benefit package? If so, we would be delighted to help in designing it and outlining the most suitable funding requirements – accounting for any regulatory requirements or risks associated with the benefit, including demographic trends and longevity risks.
We encourage our clients to develop their internal staff members to be knowledgeable and experienced in the work we do. From basic level to advanced practical training courses, with TASC, you can build a well-trained team within a reasonable timeframe. Once your team is built, we can support you through performing an independent peer review.
Private
Pension Funds
Pension
Regulators