Retirement Benefits

In order to recruit and retain the best talent, companies are increasingly searching for ways to provide their employees with an attractive overall package. This involves balancing an effective compensation package along with the right retirement plan.
 
Increased economic volatility and investment risk, rising pension liabilities, complex tax laws and regulations, changing demographics and longevity risk are some of the issues that your organization must address in order to provide a sustainable retirement plan.

How can we help?

At SIR Consultants, we partner with our clients to assist them with developing the best approach to design, funding, governance, administration and communication of retirement programs that meet their workforce needs. We provide services to numerous organizations in Pakistan, UAE and Saudi Arabia. Our services include:

• Designing schemes pertaining to pension, gratuity, benevolent funds, post retirement medical benefits and leave encashment benefits
• Conducting actuarial valuations for the above mentioned retirement schemes
• Providing assistance with drafting trust deeds and rules
• Financial reporting under IAS 19 and IAS 26
• Carrying out cash flow projections to determine fund solvency and determining contribution rates based on different funding methods
• Providing support with harmonization of retirement benefits during mergers and acquisitions
• Advising on curtailment and settlement events
• Plan benefit comparison with market practice
• Preparation of benefit calculations on termination, retirement and death
• Third party administration of Provident Fund on an on-going basis