27. May 2020

Actuary’s Office

The core competencies and core business areas of Kenston Services Ltd include actuarial consulting and support for company compensation and pension schemes.

Pension obligations of the company pension scheme resulting from direct commitments are shown in the balance sheet of the company making the commitment via pension provisions. In this respect, the following balance sheet valuation options can be considered or applied:

  • valuation balancing for tax purposes in accordance with Section 6a of the German Income Tax Act (EStG);
  • Valuation under commercial law in accordance with the requirements of the German Accounting Law Modernisation Act (BilMoG);
  • International accounting in accordance with International Financial Reporting Standards (IFRS)
    and United States Generally Accepted Accounting Principles (US GAAP)
    Accounting Principles (US-GAAP).

Against this background, Kenston Services Ltd supports employers of all sizes in the balance sheet valuation of pension obligations. For this purpose, all necessary balance sheet approaches are considered and finally evaluated.

In addition to the annual calculation of provisions, the spectrum also includes long-term forecasts and simulations according to various scenarios. In the same way, calculations and expert opinions are also prepared for obligations similar to pensions (obligations for anniversary benefits, from partial retirement agreements or others).

In addition to actuarial consulting for companies in general, another core competence of Kenston Services Ltd is the comprehensive support of pension and death funds. In addition to the provision of responsible actuaries, the services also includes function spin-offs.

In this context, the Kenston Services Ltd team consists of graduate mathematicians, actuaries (DAV;German Association of Actuaries) and IVS (Institute of Actuarial Experts for Retirement Provision Association) experts with many years of professional experience. Mr. Jan Stratmann is the Head of the Actuarial Department of Kenston Services Ltd. Mr. Stratmann is a graduate mathematician and additionally qualified as an actuary (DAV) and IVS expert.