There are many situations where there is a need for present day values to be placed on a future payment or stream of such payments, where there is some uncertainty relating to the amounts, the timing or the probability of the payments. We carry out actuarial calculations for a range of such purposes.
One such area of actuarial work relates to friendly societies and similar bodies. There are various shapes and sizes of organisations included within the class of registered friendly societies. Many of these offer funeral, sickness or other benefit plans that require regular actuarial valuation. We advise on the development of benefit plans and appropriate contribution rates.
Another area of involvement is the development of the New Zealand Retirement Commissioner’s website www.sorted.co.nz. The website was designed, with our input, to help New Zealanders sort out their financial lives.
More generally, we can advise on:
- the loss of future income and other benefits following dismissal or disablement,
- life interest and reversion shares in estates,
- costs of future care for people with special needs.