Services

Pension

portfolio

PENSION

Nordic Actuary AB caters to both large corporations and smaller companies which need help with pension valuations, projections and analyzes of future pension costs. The focus is often on occupational pension plans with options to also include state pension.

IAS 19

One main focus is IAS 19 (and US GAAP) valuations for companies that are subject to these accounting rules. The actuaries at Nordic Actuary AB have a long experience of working with both IAS 19 and US GAAP rules for Nordic corporations with pension plans in- and outside the Nordic region.

Pension valuations

Whether or not Swedish companies must follow IFRS rules (including IAS 19 accounting requirements), companies need to value their pension liabilities under Swedish GAAP. Contact Nordic Actuary, and we will help you.

Pension Reviews

Services that fall within this area are for example:

– Pension Plan design for high earners

– Design of a new pension plan (for example for companies that are not bound by collective agreements)

– Different types of pension cost forecasts (for budgeting purposes)

– Analysis of various types of defined benefit and defined contribution pension plans in Sweden

– “Replacement Ratio” / replacement ratio calculations – The replacement ratio an employee expects to get of his income when he or she retires. For example, 50% or 65% of its final pay.

Executive pensions

Managers often have separate pension agreement, in addition to the collective pension which also need to be valued.

Analysis of optimal financing vehicle

A company in Sweden can fund their defined benefit pension obligations in three ways: insurance, pension fund, or book reserve (unfunded). There are advantages and disadvantages to all three forms. We can help companies analyze the various options for finding the right solution for the company.

Procurement of pension insurance brokerage services

Nordic Actuary is in a unique position because we are a completely independent firm on the market, and we are working only via fee-based compensation. Nordic Actuary can help companies procure their pension insurance broker services, prepare the tender documentation for the customer, and be on hand during the procurement process.

Pension Audit

Nordic Actuary assists with analyzing companies’ current pension policies to see whether their current contracts for insurance and pension brokerage services should be updated. We also assist with follow-up analysis to make sure that the new services are implemented correctly. We also assist in analyzing the actual returns and the retirement benefits, after all fees are deducted. Most companies and employees do not have a clear understanding of the company’s current pension fee structure (commissions, kick backs and other hidden fees). We help companies get a better understanding of how the pension market works.

Benefit Audit

We help companies get a better overview of their benefits – locally / regionally / globally.

This does not only cover pensions but also other kinds of benefits such as sickness, health, health insurance, vacation, and flexible benefits.

Merger & Acquisitions

Nordic Actuary has a long experience in helping companies in connection with acquisitions or divestitures, both in Sweden and in other markets. We focus primarily on risks associated with pensions and benefits, where there are many pitfalls that can be avoided with knowledge, appropriate planning and control. We can support in all stages of an acquisition: Due Diligence, contract signing and further in the integration phase following a transaction.

 

For more information, please contact susanna.wallin@nordact.se