The web-based tool is entirely free to use, but you're fully responsible for how you use it, the results you produce, and how those results are applied. We accept no responsibility for the outcomes derived from its use. So we strongly encourage you to consult with actuary to review your Scheme benefits, set assumptions, calculate remeasurements, discuss risks and existing funding opportunities and prepare fully compliant IAS 19 disclosures.
You are free to set assumptions as you see fit. Nonetheless, we've included default demographic assumptions that are widely accepted in the GCC based on our expertise, should you lack sufficient statistics (such as attrition rates, mortality, retirement ages). We advise against altering these without substantial evidence. Regarding financial assumptions such as the discount rate and salary growth rate, please make sure you use current market rates.
You are able to download a sample report to gain insight into the expected results. Once you provide the necessary data, the report tailored for your company will be sent to your email address. It will include a summary of benefits, an explanation of the methodology used, an overview of assumptions, employee statistics, a reconciliation of liabilities, an outline of scheme costs relative to Other Comprehensive Income and the Profit and Loss Statement, an estimate of current and discontinuance liabilities, the outcomes of sensitivity analysis, and a detailed breakdown of liabilities by employee categories.
Download sample Input_template.xlsx
Download sample report.pdf
Founded in 2005, Lux has experienced impressive growth, maintaining uncompromised service standards and building a strong reputation in the regions of its operations. We position ourselves as a technically competent and knowledgeable actuarial consultancy. We continually look to innovate the products and processes of our clients. For many years now we have been involved in the Employee Benefit and Retirement Savings industry in the Middle East.
Our people possess strong technical skills, internationally acknowledged professional qualifications and determination to provide advice of the highest standard. We have the technical ability as well as the relevant experience. It is worth noting that, at Lux, IAS 19 work is performed by qualified actuaries with regional experience, supported by an expert and committed team of actuarial analysts.