Charan Gupta Consultants Pvt. Ltd offers high quality actuarial services to its customers or clients. The company finds out solutions to queries and concerns related to employee benefits. The company is known to offer reliable and trustworthy solutions to its customers. While offering actuarial solutions to its customers, the company makes certain assumptions. It makes assumptions on the discount rate, future salary increase and expected return on planned assets for the future, turnover or attrition, retirement age, mortality table.
The Company uses the following methodology and terminology in its valuation reports:-
The company uses Projected Unit Credit (PUC) Method to assess the plan’s liabilities to exit employees for retirement, death in service and withdrawals (Resignation / Termination).
Under the Projected Unit Credit or PUC Method, a projected accrued benefit is calculated at the onset of the period and again at the end of the period for each benefit that accrues for the active members included in the plan. The projected accrued benefit is based on the plan accrual formula and upon service as of the beginning or end of period, but using member’s final compensation projected to the age at which the employee is assumed to leave active service. The plan liability is the actuarial present value of the projected accrued benefits as on the date of valuation.
Under PUC Method calculation, the company used all the assumptions (Financial Assumption & Demographic Assumptions)