Employee Benefits
Actuarial Valuation
and Accounting disclosures for retirement and long-term benefit
plans in accordance with accounting standards
- AS 15 R (India)
- IND AS 19 (India)
- FAS87/158 (US GAAP)
- AS 19 (Philippines)
- IAS 19 R (IFRS)
- NAS 19 (Nepal)
- LKS 19 (Sri Lanka)
- TAS 19 (Thailand), etc.
Funding strategy
and funding valuation assessments
Actuarial advice
and designing Defined Benefit plans
Contribution
recommendations
De-risking, plan
change advice and transition support
Assumption setting
advice and Trend analysis
Assumption setting
advice and Trend analysis
DB to DC conversions
ESOP valuations using
black Scholes methodology
Long Term Incentive
Plan Valuations
Actuarial Valuations
for Customer Loyalty Programs, Warranties
//Facts//
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Universal Actuaries and Benefit Consultants
Our step approach to actuarial valuations
01
Understanding the benefit Plan & Data Validation
- Obtain and understand the scheme rules in detail
- Obtain member data for current year and the previous year
- Data validation for the current year and data comparison with the previous year
- Clarification of errors and rectification
02
Assumption Setting
- Set the discount rate according to the Guidance issued by the relevant accounting standards.
- Salary escalation and attrition rate in discussion with the company supported by data analysis.
- Leave Utilisation & Encashment rates, Medical Inflation etc. based on the company data.
- Other Assumptions based on the company/Market data.
03
Valuation, Result Comparison and Communication
- Compute total actuarial liability and other relevant parameters
- Validate and Peer Review Actuarial Calculation internally
- Statistical outputs for management discussions and analysis
- Communicate the Draft liability numbers with data summary
- Communication /Discussion on variance with previous year valuations with the relevant team
04
Disclosures , Reports & interaction with stakeholders
- Preparation of disclosures
- Our Reports includes accounting disclosures extensive graphs, analysis, movement analysis and comments
- We are available 24*7 to support clients
- Discussion with the HR/Finance team to explain the Actuarial Reports and the movement
- Interaction with the Auditors
