Pension & Provident Fund Consulting

Our consultants provide specialised advice on plan design, investment, governance and actuarial matters for pension plans in Cyprus, Greece and the wider region.

The world of defined contribution (“DC”) pension provision – known in Cyprus as Provident Funds – is changing rapidly. The continuing global trend for companies to move away from defined benefit to defined contribution pension provision and the legislation surrounding the establishment, operation and supervision of these funds has made the role of the management committees, trustees and sponsors of these funds a lot more demanding.

Our consultants have worked very closely with Provident Funds in Cyprus and Defined Contribution Plans in Greece and have made a significant contribution in shaping the future of defined contribution pension provision in these markets.

We believe we can add value at all stages involved in the management of a Provident Fund/DC Plan. More importantly, we are confident that Management Committees will find our presence reassuring and our advice indispensable. We have constructed a structured and disciplined approach with regard to the management of a Provident Fund/DC Plan – an approach that focuses on the right objectives, the right processes, the right systems and more importantly the right role for each party involved in the process.

Occupational defined benefit (DB) pension funds have been in the spotlight throughout the financial turmoil of the last decade. The pensions promised to workers and former workers through these funds have been a huge driver for retention and motivation of staff over the years. However, the cost, accumulated obligations and the volatility of financing these funds have led many companies to look for alternative pension solutions, cost savings or de-risking measurements. Moreover, our consultants have experience in the completion of rigorous pension fund stress tests prescribed by the European Authorities and have helped Management Committees by performing these tests and ensuring compliance with the prescribed specifications.

Our consultants help management committees, trustees, fund sponsors and members of defined benefit pension funds to deal with the unique challenges and questions facing them currently. Through our experience and expertise we help our clients to deal with plan redesign, governance, investments, communication, plan closures and transition management, as well as a wide range of de-risking initiatives.

Our focus is to help our clients understand the complex world of defined benefit retirement provision in order to take informed decisions that will incorporate the needs of all the stakeholders involved. More importantly, we remain fully committed to each consulting project until the objectives are met. We believe that our consultants’ expertise and our commitment to delivering quality, value-added advice communicated in simple language are key differentiating factors for our firm.

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