Services provided

These have been split into 3 categories:

Actuarial services to defined benefit pension plans

Actuarial services provided to defined benefit pension funds usually comprise the following.

  1. A statutory actuarial valuation of the Fund, at least once every 3 years.
  2. Such a valuation would comply with the guidelines set by the Commissioner of Insurance, Pension and Provident Funds, Zimbabwe (“the Commissioner”) set out in circular No. 7 of 2014 dated 21 October 2014 and also with international actuarial standards and in particular the current version of Guidance Note SAP 201 issued by the Actuarial Society of South Africa.
  3. Each valuation would normally cover the following areas as a minimum:
    • investigation of the experience of the Fund in the intervaluation period in order to establish whether the assumptions should be changed;
    • an analysis and reconciliation of the membership data in the intervaluation period;
    • calculation of the past service liabilities both on a discontinuance and an ongoing basis and comparison of these with the value of the assets;
    • calculation of the future service liabilities and making a recommendation as to the employer contribution rate.
  4. In addition, we would be involved (if required) in some aspects of individual calculations, costing benefit changes, calculating the impact of granting pension increases, setting self-insurance limits and in general providing commentary and analysis whenever the Fund's financial position is affected.

At Pentact, we aim to provide a fully professional service by qualified professional staff .

Other actuarial services

These might include the following:

Pension consulting

Employee communications

Independent advice on the annual accounts, changes to expense and life assurance charges, medical evidence of health limits and all other aspects of pension funds in particular those administered by an insurer.

Investment advice on a suitable investment vehicle for the fund which might include:

In addition we can obtain quotes from and advise on suitable investment managers, which might include:

We can also work with your investment managers in order that they understand the specific needs of your fund with regard to security of investments, long term yields, the tax free aspects of pension funds and legislative requirements. Investment services are not offered by us as we believe that it would to some extent compromise our stand of independence.

Pension Fund Rules:

Review of the cost of risk benefits (group life assurance and disability) across the market in order to obtain the best value for money.

Trustee Training

Copyright: Pentact (Private) Limited, 2002-22
Last modified: Wednesday 7 February 2018
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