Assessment of the financial health of a pension plan by an independent actuarial consulting firm.
A determination by an actuary of the value of a pension plan's assets and its liabilities. The valuation, which is based on statistical probability, is used to determine if the assets are adequate to fund the plan's liabilities. If the value of the assets is not adequate, the plan sponsor must increase its contributions to make up the deficiency; if the assets are more than adequate, the plan sponsor can reduce contributions. Also called plan valuation.
A determination by an actuary, based on statistical probability, of the value of assets and/or liabilities.
The procedure used to estimate the present value of benefits to be paid under a plan and to compute the amount of contributions required to cover the unfunded cost of benefits.
a must to ascertain the benefits accruing under the Defined Benefits Plan
The valuation of a plan by an actuary to determine if assets are sufficient to meet any payouts.
An investigation by an actuary into the ability of a pension scheme to meet its liabilities. This is usually to assess the funding level and a recommended contribution rate based on comparing the actuarial value of assets and the actuarial liability.
When an actuary checks whether a pension scheme can meet the cost of the benefits as they arise in the future. The valuation is normally carried out every three years and takes into account: the current investments estimated future investment returns (such as dividends on shares) meeting the cost of future benefits current amount of contributions from you and your employer the expected number of people who will be retiring and their ages and estimated times of retirement
To ensure that benefits provided are fully funded and to determine employer contribution rates, annual valuations are completed. Actuaries use each employer's schedule of benefits, membership data, and a set of actuarial assumptions (i.e., life expectancy, inflation rates, etc.) to estimate the cost of benefits. Costs are allocated to the fiscal years within the employee's career.
the actuary ensures that a final salary pension scheme is adequately funded by recommending a level of employer and (usually) employee contribution to the scheme. This is worked out by using details about the members (age, current salaries etc.) and assumptions about numbers who will leave and figures on death rates. The valuation is usually carried out once every three years, when there may be a recommendation to change the rate of contribution.
A valuation carried out by an actuary on a regular basis, in particular to test future funding or current solvency of a pension fund.
This is an assessment done by an actuary , usually every three years. The actuary will work out how much money needs to be put into a scheme to make sure pensions can be paid in the future.
An analysis of the financial condition of a pension plan which calculates the liabilities of the plan and costs of providing plan benefits. An actuary prepares the valuation and the pension plan must file the valuation with the provincial government at least once every three years.
An investigation by the actuary into the ability of a pension scheme to meet its benefit promise. This is usually done to calculate the recommended contribution rate which takes account of the actuarial values of assets and liabilities of the fund. Such an investigation is also needed so that the actuary can complete a funding certificate.
