Corporate Actuarial Consulting Services
We are experts in actuarial valuations of employee retirement and termination indemnities, and seek to prepare companies to cover their future liabilities.
In addition, ACTUARIA provides specialized actuarial consulting services in accordance with the legislation of each country in connection with labor plans and benefits.
Actuarial Valuation of Employee Retirement
According to the current Labor Code, every employee who has worked for 25 years or more with the same employer is entitled to receive a pension for life, and an annuity for the beneficiaries upon the retiree’s death. The valuation of a provision that ensures the expected payment of monthly pensions is an important matter.
In Ecuador, reserves for workers having served ten or more years are deductible from income tax. In addition, IFRS are applicable to the vast majority of companies.
It should be mentioned that in Ecuador the cost of the actuarial valuation of employee retirement reserves is deductible from income tax.
Actuarial Valuation of Termination Indemnities
In Ecuador, in the case of termination of an employment relationship due to severance or unjustified layoff, and for companies to be able to cover these contingencies, the correct provision of a mathematical reserve is required.
It should be noted that in Ecuador the cost of the actuarial valuation of these reserves is deductible from income tax.
Through this process, the retiree can request the employer to pay the corresponding pensions as a lump sum or in a monthly annuity.
Valuation of Benefits of Collective Bargaining Agreement
The benefits set forth in a Collective Bargaining Agreement can be evaluated by applying mathematical models, thus providing accurate and first-hand information.
Consulting on Social Security
We offer consulting services on social security and evaluation of the benefits offered by it.
Actuarial valuation of Social Security benefits, development of actuarial balance sheets and cash-flow projections.