Course Overview
In the ever-changing landscape of employee benefits, designing and administration of retirement plans with competitive, and cost- effective employee benefits takes vigilance and expertise. Entities managing defined benefits plan today faces persistent risks and evolving realities: uncertainty in laws and regulations governing employment benefits, market volatility, uncertain liabilities, uncertainty in protection of accrued benefit rights, and pressure to reduce expenses and contributions. Succeeding in this landscape requires an agile strategy and process that can dynamically react to regulatory changes, market conditions and seize opportunities while managing risk and expense. This training will acquaint participants with broad knowledge in terms of the design and administration of competitive, cost-effective, and legally compliant retirement plans.
Course Objective
The aim of this training is to acquaint participants with broad knowledge in terms of the design and administration of retirement plans that will effectively respond to the persistent risks and evolving realities. At the end of the training participants will be able to identify different kinds of retirement plans, design different types of retirement plans, assess the cost of retirement plan, identify different options for financing retirement benefit plans.
Course Contents
The course is expected to cover the following topics:
i.) Introduction to Retirement Plans
General principles of retirement plan; legal foundations and system of rules and regulations governing the structure and operation of retirement plan; types of retirement plan (Defined Benefit Vs Defined Contribution); and the needs and roles of key stakeholders of retirement plans.
ii.) Design Aspect of Retirement Plans
General considerations for the design of a retirement plan including considerations for the structure and features of the plan; the structure and features of the plan; key provisions of retirement plans; and social security system.
iii.) Valuation of Assets and Liabilities
Knowledge of the valuation process; assumption setting and inter-valuation monitoring; monitoring preretirement decrements; implications of new and cessation employees to the Fund; contents of the actuarial valuation report; and accounting and disclosure requirements for the defined benefit plans in compliant with the International Accounting Standard Nineteen (IAS 19).
iv.) Principles of Financing Retirement Plans
Pattern of expenditure of a retirement plan; sources of revenue of a retirement plan; types of systems
for financing a retirement plan; and funding strategy and main criteria for choosing an appropriate
financing system.
v.) Investment of Retirement Funds
Key requirements for the governance of the investments of retirement funds; investment philosophy, mission, objectives, investment horizon and risk tolerance; sources and nature of investment risks; key elements of the investment policy statement and legal and regulatory constraints; general requirement for the asset allocation for the retirement plan; and monitoring asset returns relative to the liabilities.
vi.) Administration of Retirement Plans
An introduction to different options for the administration of retirement plans; the role of different players in the administration of retirement plans; general legal and regulatory framework and how potential changes in legislation may threaten the eventual existence of the retirement plans; and how a retirement
plan may change the mechanisms for plan administration.
Participants
The course is designed for trustees of employees’ retirement plans, personnel from human resources, and
finance departments, auditors and other responsible professionals working in the administration of employees’
retirement plans.
Course Benefits
• Put learning into practice through an Integrated Applied Exercise focused on building and or application of social protection-specific actuarial model.
• Participants join and interact with a diverse network of professionals engaging in assessment of social protection schemes sustainability and policy formulation.
• The course uses a mix of training methods: lectures, plenary discussions, good practices, case studies, group work, and individual exercises.
Training Methodology
The course will employ a combination of group work, lectures, panel discussions and interactive exercises.
Venue and Dates
The training will be held at Kibo Palace Hotel in Arusha from 14th to 16th April 2025.
Costs
The training fee for a three (3) day course will be TZS 1,000,000/- per person. The fee includes facilitation, certificates, writing materials, pens, training notes (including hard copy notes), meals, drinks, snacks and a conferencing venue for the participants.
How to Apply
Confirm your participation by 1st April 2025 through
email: info@ar-consult-world.com or
call on Tel: +255222198025;
Mobile: +255692096896.