A scheme actuary is required by funded Defined Benefit Schemes to carry out a valuation of the liabilities of the scheme and to determine the future contribution rates required to meet the benefits payable. Our experienced team of actuaries provide scheme actuary services to the trustees and sponsoring employer of defined benefit pension plans and this role includes:
- Preparation of funding actuarial valuations to help establish the rate of contribution required to fund the pension plan, including sensitivity analysis, and to provide a check on the current financial status of the plan.
- Advice on the cost and impact of proposed benefit amendments.
- Annual solvency testing.
- Preparation of actuarial funding certificates and actuarial statements as required under the Pensions Act.
- Pensions Authority funding proposal calculations.
- Liaising with the Pensions Authority on funding and other issues.
- Advice on the risks and potential returns inherent in any proposed investment strategy.
- Investment Strategy – asset and liability studies to ensure that the investment strategy adopted by a pension plan is appropriate.
- Valuations for small self-administered pension plans.
If you would like to discuss how we can help, please contact John Byrne.
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