Non-government pension funds practice

Actuarial Services

• Modelling future cash flows
• Estimating obligations under Mandatory Pension Insurance and Non-Government Pension Security programmes.
• Developing tariffs
• Testing profits
• Reviewing the adequacy of generated obligations           
• Estimating embedded financial instruments and guarantees
• Modelling for ALM purposes

Analyse mortality and longevity rates

• Advising the collection and processing of statistics
• Analysing trends in line with statistics from pension funds and external data
• Compiling mortality tables

Educational services

• Providing valuation and accounting methodology
• Trainings on actuary models and their implementation
• Designing pension schemes based on cash flow forecasts
• Accounting and reporting in NGPFs in accordance with new regulations from the Bank of Russia (chart of accounts for NGPFs; industry accounting and statutory accounting (financial) statements standards in NGPFs; other industrial accounting standards)
• Application of IFRS in preparing statutory accounting (financial) statements for NGPFs  

Prepare calculations for mergers and acquisitions

• Calculating cash flows, assumptions and provisions used
• Estimating embedded value of business

Accounting and reporting methodology services

• Developing internal regulations: accounting policies, working chart of analytical accounts, business entity’s standards, internal forms of management reporting and statutory (accounting) financial statements
• Developing regulations for accounting and preparing financial statements
• Providing methodological support for complex issues related to accounting, asset and liability evaluation, and disclosures
• Reviewing compliance of the fund’s internal regulations with the regulations of the Bank of Russia. Analysing internal regulations for their consistency with IFRS principles
• Preparing recommendations related to adjusting the preparation of financial statements 
• Drafting recommendations for process optimisation and speeding up processes for the preparation of financial statements 

IT consulting services

• Diagnosing IT systems
• Developing the terms of reference (functional and technical requirements) to improve information systems
• Automating the process of preparing financial statements and other mandatory reporting forms

Data migration services

• Assessing the quality of existing data (completeness, consistency, etc.)
• Assisting in writing the terms of reference for the integrator. Developing models of correlations between data-model elements for the transition from the old to the new chart of accounts.
• Testing migration results and data-transfer completeness

Assistance with NGPF’s transition to the new chart of accounts and industry-specific accounting standards

• Developing methodological basis for transfer to a new accounting system
• Reviewing compliance of the delivered functionality with business requirements and terms of reference, including compliance of the implemented entry-generation logics with the accounting policy and IAS
• Assessing the adequacy of controls performed on data consistency in the source system and the new system
• Reviewing the performance of the implemented solution
• Evaluating the performance of the project office

Ongoing tax support for the Fund’s operation and tax advice

Legal consulting services