Accounting for pension schemes
Providing a full range of services in all areas of accounting for employee benefits and other long term liabilities
We provide the full range of services in all areas of accounting for employee benefits and other long term liabilities. Our services are based on a culture of providing all of our clients with high quality, professional service through strong personal relationships and tailored solutions while remaining competitive on fees.
Our advice on defined benefit pension schemes includes:
We also provide a range of services in relation to accounting for post-retirement medical plans and share based payments. As well as carrying out the necessary calculations, we can advise on the choice of underlying assumptions and the sensitivity of the results to changes in assumptions.
To assist clients in setting their own assumptions we prepare an annual research series of the key actuarial assumptions used by FTSE350 companies for DB pensions schemes.
Our newsletter highlights the areas that should be considered when setting the actuarial assumptions.Subscribe today
We have developed an interactive modelling tool, Illuminate, to help Finance Directors understand and quantify the factors influencing the financial position of their pension scheme. It also allows an instant assessment of the sensitivity of the accounts to the year-end assumptions so that the Finance Director can make a fully informed decision on the optimal approach.
We carry out annual surveys of the assumptions adopted by UK universities for determining the value of their pension liabilities for accounting purposes. The surveys focus on universities which operate Self Administered Trusts (SATs) and look at the significance of these schemes in the context of the overall finances of the university as well as at the assumptions used in their accounting disclosures.
"Using Barnett Waddingham’s process the consolidation went extremely smoothly. Delivery was on or ahead of schedule and the auditors didn’t raise any issues..."Read the case study