Employee Benefits Service |
NAUMAN ASSOCIATES, since its inception in 1985, has been providing
consultancy services in Pakistan in the area of Employee Benefits. Our
valued clients include some of the most prestigious organizations in Pakistan
belonging to the multinational, private and public sectors. Members of our
actuarial team also have experience in servicing clients in other countries
including Canada, Kenya and Uganda.
In recent times there have been considerable changes related to accounting and
reporting for Employee Benefits. Our Firm has been continuously monitoring
these changes and updating its services accordingly.
Our experienced team, armed with current knowledge, is able to provide
comprehensive and effective advice to organizations that either wish to
introduce, or already have Employee Benefit Programs (such as Pension,
Gratuity and Post-Retirement Medical and Leave Encashment
schemes etc.).
We offer the following consultancy services for Post-Retirement Employee
Benefit Programs (that is for Pension, Gratuity, Medical Schemes and other
free or subsidized facilities) and Other Long Term benefit programs (such as
leave accumulation and/or encashment):
- Carrying out actuarial valuations to determine financial implications of
introducing new schemes or varying benefits of existing schemes (this
includes identifying one time and recurring costs).
- Assistance in selecting appropriate benefits, in view of an organization's
objectives, prevalent norms and cost constraints.
- Carrying out a funding actuarial valuation to determine surplus/deficit,
assessing appropriateness of existing funding strategy, and recommend
changes where required.
- Assistance in devising appropriate strategy for financing of start up or
benefit change costs.
- Preparation of trust deeds, rules and supplementary documents for
administering the program.
- Assisting in preparation of reports for such programs according
to specifications of prevailing International and Local Accounting
Standards (such as International Accounting Standard 19 for
reporting in Pakistan).
- Providing prudent advice on appropriateness of investment policies
practiced by funded schemes in various allowed instruments,
by analyzing their yields and taking into account the cash-flow
requirements for benefit payments etc.
- Preparing cash flow projections for employee benefit schemes to assist
Organizations in cash flow management and budgeting.
|