What Is an Actuarial Report?

The actuary based on the company's personnel records and other information, after the actuarial calculation, put forward a formal report for calculating the pension cost of the company. The accounting staff compiles a working paper for retirement benefits and makes the basis for formal accounting entries.

Actuarial report

Right!
The actuary based on the company's personnel records and other information, after the actuarial calculation, put forward a formal report for calculating the pension cost of the company. The accounting staff compiles a working paper for retirement benefits and makes the basis for formal accounting entries.
Chinese name
Actuarial report
Used for
Calculating corporate pension costs
details
The most complicated job in pension accounting
Solid
Formal report
Complete character
Actuary
What is an actuarial report?
The most complex task in pension accounting is actuarial. This work is usually done by an actuary. The actuary calculates the retirement cost and various payment obligations of the enterprise based on reasonable actuarial assumptions. Finally, an actuarial report is presented.
When compiling an actuarial report, the actuary needs to make some assumptions, such as employee mortality, turnover rate, future wage levels, return on investment of retirement fund assets, and discount rate of retirement benefit obligations. Each actuarial assumption is the best estimate of a particular matter. Unless there is evidence to the contrary, the premise is that the retirement scheme will continue to be effective.
The actuarial report lists the actuarial assumptions, the annual pension cost composition items included in the actuarial system, the withdrawal of retirement funds and the payment of pensions, various payment obligations on a specific date, such as estimated payment obligations, cumulative payment obligations, and vested payment obligations, and retirement The actual and estimated amounts of the fund's fair value.

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