I am a scheme actuary to a defined benefit scheme in the UK and later today I will complete the formal results of a triennial valuation.
Not that unusual, you say? Well, what if I said the valuation date was 31 March 2014?
That’s right – not months, not weeks…one day. Our valuation system produces real results, based on real data, every day. Yes, we know you won’t need figures every day but they are there if and when you need them. The system allows trustees, sponsoring employers and investment managers to take immediate action based on up to date market conditions.
How so? Well, the power of computing means things go much quicker. No more waiting for hours to crunch complex calculations. So, code up your benefit specification, load your data and you are away.
Missing data can be gathered over time. The system is clever enough to allow sensible overrides on the administration data to allow the valuation to proceed in the meantime. Then, when the actual data is completed, the override disappears and the next valuation is completed on the new data set.
This is not a tool. This is not a roll-forward. Oh, and it also does all of your administration calculations too.
If you would like a demonstration of our system, please let me know…