Independent actuarial valuation of retirement benefit liabilities and long-term benefits

Annual engagements for a major copper producer in Kazakhstan

From 2009 to 2011 and from 2014 to 2020, the KPMG actuarial team performed independent actuarial valuation of retirement benefit liabilities and long-term benefits for the Kazakhstan’s major copper producer.

Description of the work

  • Preparation of a review of the company’s retirement benefit plans
  • Providing advice necessary to set forth actuarial assumptions
  • Valuation of the amount of the company’s liabilities arising in relation to long-term benefits due to employees and retired employees under the defined benefit plan
  • Analysis of sensitivity of retirement benefit liabilities to varying actuarial assumptions
  • Calculation of expenses which must be recognized in the statement of profit or loss
  • Indicative forecast of the value of retirement benefit liabilities
  • Illustrative accounting disclosures in accordance with IAS 19
  • Recommendations on the retirement account replenishment