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Scheme Actuary

Willis Towers Watson is one of the leading providers of Scheme Actuary services to Irish pension schemes, including a significant number of the largest corporate pension schemes.

Our c. 150 Scheme Actuary clients are served by our team of more than 20 Scheme Actuaries, in turn supported by multi-disciplinary teams which are built to meet each client’s specific needs.

Calling on unrivalled experience of developing commercially sound, market-leading, bespoke approaches to client problems, we are able to develop and implement cost-effective, streamlined solutions for clients of all sizes.

We provide the full range of actuarial and wider consulting services to trustees and companies both in the Ireland and abroad.

Strategic funding services

  • Advice supporting identification of long term goals and development of funding strategy
  • Development of strategies (“Journey Plans”) toward an eventual de-risked state using the power of our “Funding Projector” software which, uniquely in Ireland, integrates projections work with our global valuation systems
  • Supporting negotiations about funding and, where relevant, the development of funding agreements, or statements of funding principles
  • Development of ‘funding proposals’ where needed, also using our powerful Funding Projector tools

Actuarial compliance services

  • Triennial, ongoing funding valuations
  • Statutory valuations, including certification and regular actuarial statements, on funding proposals where these become necessary
  • Annual statutory funding reporting (annual statements and AADRs as well as actuarial notes in scheme accounts)
  • EU statistical reporting compliance

Monitoring services and tools

  • Funding monitoring using our quarterly “LiabilityWatch” reporting service
  • Sophisticated, always up-to-date monitoring, available online using our market-leading “Asset Liability Suite” (‘ALS’), which provides daily tracking of funding levels, as well as powering your monitoring of your preferred triggers to optimise de-risking

Other Actuarial advisory and supporting services

  • Advice and execution support to plan administration teams, covering matters such as transfer terms, actuarial conversion factors, support on complex cases and awkward calculations, support on death and disability insurance arrangements, and the like
  • Settlement solutions, covering a range from winding up services, through advice on buy-in of pensions on to other possible de-risking exercises such as Enhanced Transfer Value (“ETV”) offers or Pension Increase Exchange (“PIE”) exercises
  • Advice on assessing the strength of the Company’s covenant
  • AVC and Hybrid plan services
  • General benefits consulting advice and support, including of course full advisory support to Trustee Boards as well as supporting advice on current pensions issues, technical matters, and regulatory changes
  • Advice on communications strategy, including design and preparation of Trustee’s annual reports, newsletters, booklets and other communications to members
  • Executive Financial Planning
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