Course Details

Pension Plan Actuarial Valuation Training: Assessing Liabilities and Ensuring Funding Adequacy

INTRODUCTION

Actuarial valuation is a critical process for pension plans, providing a snapshot of the plan's financial health, assessing its liabilities, and determining the funding required to meet future benefit obligations. This Pension Plan Actuarial Valuation training course offers a comprehensive understanding of the actuarial principles, methods, and assumptions used in valuing pension plans. Participants will learn about demographic and economic assumptions, funding requirements, liability measurement, and reporting requirements, equipping them to understand and interpret actuarial valuations. This essential actuarial training is ideal for actuaries, pension plan administrators, financial professionals, and anyone involved in the management and oversight of pension plans. This course covers key areas like demographic assumptions, economic assumptions, liability valuation, and funding requirements, empowering you to become a knowledgeable and effective participant in the pension plan actuarial valuation process.

DURATION

5 days

TARGET AUDIENCE

This course is designed for a broad audience, including:

• Actuaries: Professionals responsible for performing pension plan valuations.
• Pension Plan Administrators: Individuals managing the day-to-day operations of pension plans.
• Finance Professionals: CFOs, controllers, and financial analysts involved in pension funding.
• Human Resources Professionals: HR managers and benefits administrators.
• Anyone involved in pension plan management: Individuals wanting to gain a deep understanding of pension plan actuarial valuations.

COURSE OBJECTIVES

Upon completion of this course, participants will be able to:

• Understand the actuarial principles and methods used in valuing pension plans.
• Develop and apply appropriate demographic and economic assumptions.
• Calculate pension plan liabilities and funding requirements.
• Interpret and analyze actuarial valuation reports.
• Understand the regulatory requirements for pension plan valuations.
• Assess the financial health of a pension plan.
• Communicate effectively about actuarial valuation results.
• Stay current with changes in actuarial standards and regulations.

COURSE MODULES

• Introduction to Pension Plan Actuarial Valuation:
• The purpose and importance of actuarial valuations.
• Key terminology and concepts in pension actuarial science.
• Overview of the actuarial valuation process.
• Role of the actuary in pension plan management.
• Demographic Assumptions:
• Mortality rates and life expectancy.
• Retirement ages and withdrawal patterns.
• Turnover rates and disability incidence.
• Salary increase assumptions.
• Economic Assumptions:
• Discount rates and investment return assumptions.
• Inflation rates and cost of living adjustments.
• Salary growth rates and wage inflation.
• Economic scenarios and sensitivity testing.
• Liability Valuation Methods:
• Projected Unit Credit (PUC) method.
• Entry Age Normal (EAN) method.
• Aggregate cost method.
• Attained Age Normal (AAN) method.
• Funding Requirements and Actuarial Cost Methods:
• Minimum funding requirements and funding standards.
• Amortization of unfunded liabilities.
• Actuarial cost methods and their impact on funding.
• Funding policy and strategy.
• Actuarial Valuation Reports and Disclosures:
• Understanding the components of an actuarial valuation report.
• Key financial metrics and ratios.
• Disclosure requirements for pension plan valuations.
• Communicating actuarial information to stakeholders.
• Special Actuarial Considerations:
• Plan amendments and their impact on valuations.
• Mergers and acquisitions of pension plans.
• Plan terminations and wind-ups.
• Multi-employer pension plans.
• Emerging Trends in Actuarial Valuation:
• Impact of demographic changes and longevity risk.
• Use of technology and actuarial modeling software.
• Risk management and stress testing in pension valuations.
• The future of actuarial practice in pension plans.

 CERTIFICATION

• Upon successful completion of this training, participants will be issued with Macskills Training and Development Institute Certificate

TRAINING VENUE

• Training will be held at Macskills Training Centre. We also tailor make the training upon request at different locations across the world.

AIRPORT PICK UP AND ACCOMMODATION

• Airport pick up and accommodation is arranged upon request

TERMS OF PAYMENT

• Payment should be made to Macskills Development Institute bank account before the start of the training and receipts sent to info@macskillsdevelopment.com