Background Funds paying lifetime and fixed term pensions are required to have annual actuarial certificates. These certificates must show whether there is a high (70%) probability of their being sufficient. These certificates can be used to “segregate” assets into those supporting “current pension liabilities” If......
Long service leave valuations; Sick leave valuations; Annual leave valuations; Superannuation advice; Superannuation fund selection; General consulting. Background Under Australian Accounting Standard 119 (AASB19), reporting entities are required to value their liabilities for employee benefits. These liabilities typically include those related to long service......
Valuation of interests in superannuation funds; Valuation of life tenancies and reversionary interests. Background Families need to determine values of assets held by family members for either family law or estate wind up purposes. Valuations can also be required in connection with Binding Financial Agreements......
Liability assessments and certification; Premium setting; Simulation; General consulting. Background Federal legislation mandates the appointment, by general insurers, of “appointed actuaries”. Appointed actuaries are required to certify general insurers’ outstanding claim and premium liabilities. Actuaries can also assist the management of general insurers in premium......
Valuation of economic loss; Valuation of care costs; Statistical and probability studies; Population modelling and process. Background Litigants often need to determine the value of damages that they have suffered. These damages include loss of income, the cost of rectification and the cost of subsequent......
Valuation and certification of contingent interests and financial assets and liabilites under AASB 139; Demographic studies; Projections; General consulting. Background Contracts between retirement village residents and owners and managers generally involve payment of a deferred management fee (DMF) on vacation. The manager’s interests are commonly......
Account based pension certificates; Account based pension projections; Lifetime pension certification; Fixed term pension certificates. Background Self managed superannuation funds are an efficient vehicle for families to provide their superannuation benefits. They are restricted to four members, have lower disclosure requirements than larger funds and......
Foreign pension fund transfers to Australia. Background Members of foreign pension or superannuation funds can transfer their entitlements to Australian superannuation funds subject to the laws of governing the foreign funds. In particular, Members of United Kingdom (UK) pension funds who become Australian residents can......