The challenge
Companies need to include liabilities for all their employee benefit plans in their annual financial statements, and often more frequently. For multinationals, this can be a big challenge, as it means data collection, liability calculation and decision-making for different types of plans and different jurisdictions.
Our Consolidate tool makes this process seamless, producing accurate figures whether you have one employee benefit plan or hundreds.
Watch our two minute video to find out what Consolidate can do for you
Key features
- Consolidate your worldwide pension expense for financial reporting, quickly and efficiently.
- Integrated end-to-end process, from information collation to disclosures.
- Web-based interactive results that can be accessed at any time from anywhere.
- Downloadable user-customised disclosures compliant with IFRS and/or US GAAP.
- Assess the impact of economic changes to avoid surprises before the year-end.
- Automated checks performed on key income statement and balance sheet items
How does it work?
The various stages of the process are set out below. By using Consolidate, you can take control of each stage of the process and monitor the progress made.
The opportunity
The process of collecting data for year-end reporting also presents companies with an opportunity. The data can be harnessed to provide insights into your global benefit obligations and costs, enabling you to identify where costs might be reduced and risks managed.
Additional features:
- Interrogate and analyse your results online, drilling down by country, region, plan type, etc.
- Project your year-end consolidated results to any date, capturing market movements, to assess the current financial health of your plans.
- Easily see where your largest liabilities and pension costs are, identifying opportunities to manage these.
- Set your priorities for the year ahead, including: changes to benefit design, de-risking and reviewing financial strategy.
Our expertise
Globally, we have 3,350 specialists dedicated to retirement, pension and benefits in 54 countries, assisting over 1,000 companies with financial reporting and other benefit issues.
PwC […] is effective in blending people and technology into a strong advisory that streamlines client operations, improves transparency, creates an atmosphere for enhanced agility, and provides real-time metrics on performance that mitigates risk.
Contact us
Paul Allen
Financial Reporting for Pensions Leader, PwC United Kingdom
Tel: +44 (0)7803 859050
