Administration of Provident Funds and DC/DB Pension and Grautity Funds

If your organization has a Provident Fund and/or DC Pension/Gratuity Fund, and you would like to out-source its administration, we can take this over to enable you and your accounts department to concentrate on your main business.

Some leading employers have decided to out-source their Provident Funds to us. Others have taken our actuarial advice on the correction allocation of investment income to members. Our services in this regard include:

  • Online database system with unique login for each individual employee to check his/her account balance.
  • Calculating final settlement of PF and DC Pension account on exit of an employee.
  • Annual/periodic accounting of PF and DC/DB Pension Funds.
  • Overview the annual audit of PF and DC/DB Pension Funds and resolving queries of auditors.
  • Monthly reports on Fund Accounts.

Another important area is to project the estimated benefits of the Fund. An exclusive analysis for each member of the Fund is carried out to determine projected retirement benefit from the Fund. The benefit is then analyzed for different income drawdown options including:

  • Purchasing Life Annuity from market
  • Expected duration of Fund depletion on monthly income draw down
  • Calculating monthly draw down income from the Fund basing expected future life