Pension Advice
Pension Advice
More and more often, companies, managers, trade unions, employees, and self-employed professionals are turning to Phenox Consultants. This is mainly because our advisors understand their clients, provide sharp analyses, offer clear and practical advice, and follow through with its implementation. Always with one clear goal in mind: creating added value for you!
Good employment conditions are essential for any organization aiming for success. Many organizations now recognize that a well-designed pension plan can significantly enhance their HR policies, support career management, and help control costs.
However, many organizations are dissatisfied with how their current pension schemes are structured and managed. Premiums are often seen as unnecessarily high, and returns on assets are frequently disappointing. Phenox helps you make the right decisions regarding your pension plan and assists in communicating its benefits to your employees.
We adapt your plan in a clear and well-substantiated way, providing insight into the price-to-quality ratio of the plan and the associated insurance contract. If necessary, we help you design a new plan that suits both your company and your employees, and we advise you on the best insurance contracts available.
Phenox Consultants also supports your internal communications regarding pensions. We create informative brochures, deliver multimedia presentations, and organize employee information sessions.
You can also rely on Phenox for individual pension advice for managers and self-employed professionals. In addition to pension advice, we offer support in other areas of employee benefits, such as the development and implementation of healthcare and disability solutions. We can calculate the financial impact of various scenarios and, if desired, support you in negotiations between employers and trade unions.
The advisors at Phenox Consultants do not receive commissions from insurers. This ensures they can provide you with completely independent advice.
Pension Administration
Pension Administration
Phenox Consultants can fully manage your pension administration. This includes the following processes:
- Contribution Collection Administration (Calculating the amounts to be collected)
- Participant Administration:
- Recording pension entitlements
- Tracking the length of the pension accrual period
- Determining the required pension provisions
- Managing the financing of the pension fund
- Pension Planning, such as:
- Pension statements
- Voluntary additional contributions
- Reporting data analyses and summaries
- Benefit Payment Administration (Calculating the pension benefits to be paid)
Healthcare
One of the most critical issues in the Caribbean and certainly in Suriname is keeping healthcare affordable. Many governments are considering whether policy reforms are necessary. We can provide expert advice in this area, including projections of future healthcare expenditures. We have experience with various healthcare systems, particularly those used in the Netherlands and the Dutch Caribbean.
Education
We believe it is essential to raise awareness about the importance and value of pensions. That’s why we aim to increase knowledge about pensions among people in the Caribbean, especially regarding the consequences of career changes or divorce. To support this goal, we regularly organize seminars and presentations.
Research
We also believe in the importance of research into the many factors that impact our profession. We conduct such studies in collaboration with insurance companies, pension funds, and/or government agencies.
For example, we have researched mortality rates in the Dutch Caribbean, analysed the general pension system, and made forecasts on its long-term sustainability. We also contributed to research related to a national health insurance system.
Actuarial Services
Actuarial Services
At Phenox Consultants, our actuaries do more than just perform specific actuarial calculations. They also advise you at a strategic level. We use financial and actuarial models to support both current and future financial adjustments.
Our actuaries provide services such as calculating your pension liabilities, designing pension schemes, assessing income and pension losses, and creating social insurance programs.
In addition, we can review your insurance portfolio and conduct an Asset Liability Management (ALM) study. We carry out these services entirely in-house and locally, without outsourcing to foreign firms, which also helps reduce costs.
We consider scenarios specific to Suriname, which allows us to scale the work accordingly, lowering both the scope and the cost and deliver reporting that is precisely tailored to your fund’s unique circumstances.
The actuaries at Phenox Consultants offer clear answers to complex actuarial issues and draw on extensive international experience.
Naturally, you can expect the highest level of added value from our actuarial services.
Our actuarial services include:
- Preparing annual reports;
- Actuarial certification of liabilities;
- Preparing management reports;
- Designing pension cost development models;
- Performing calculations for IFRS, ALM, pricing, and Embedded Value;
- Mapping the development of healthcare costs for Insurance Companies.
We also offer services to insurance companies. This includes advising on pricing (for product development), the required reserves, and administrative support.
Contact us directly
Phenox Curaçao
Would you like to meet Phenox Consultants free of obligation?
Our experts will gladly provide their input. Contact us directly, or request information free of obligation.