Plan Design & Redesign

(Re)design of retirement benefit plan is a highly challenging project as it involves different parties and has significant impact on the company's financial status, and it may affect employee motivation.

JP Actuary brings extensive knowledge and a broad range of perspectives to achieve the goals of a client, such as to bring consistency with other compensation schemes;
Effective cost control;
Visible and easy-to-understand program for the employees; and
Flexibility to cope with potential organizational changes and so forth.

Scope of our work includes the following;

• Analyze the existing arrangement and clarify issues
• Propose alternatives with pros & cons
• Design a new plan and transitional measures in details
• Estimate any one time cost for transition and cash flow
• Project future running cost and cash flow of the new plan
• Strategize employee / union communication
• Assist and attend briefing sessions
• Prepare new provisions and make necessary adjustments with related rules of employment