Core pensions actuarial support

Our Pensions Advisory team of qualified and experienced actuaries uses best-in-class tools to support our clients in preparing the pensions accounting entries for their annual financial reporting process. We do this both by acting as the local actuarial advisor and by supporting Group Finance in coordinating and streamlining the work of local actuaries.

As a large audit firm Deloitte can leverage our broad view of market practice and technical accountants to ensure that we always follow current best practices. This differentiates us from the more traditional actuarial firms.

Swiss pensions accounting under IFRS/US GAAP -2021

Local actuarial valuations

Any Swiss listed company or Swiss subsidiary of a European or US-listed company must perform an actuarial valuation of the pension obligations relating to its Swiss employees under IAS 19 (IFRS) or ASC 715 (US GAAP), and potentially other local GAAPs.

While in principle companies do not need to outsource these calculations, very few have the in-house expertise needed to carry out the necessary calculations. This means that the use of an external actuary is effectively necessary.

We support our clients by performing the necessary calculations, preparing pensions disclosures and participating in discussions with external auditors as needed. We operate our engagements on an “accurate, timely, no-surprises” model to ensure a smooth year-end process for our clients.

Global Actuary/consolidation support

Consolidating global pensions values is a complex project management process involving tight deadlines and requiring consistent approaches, coordination with auditors, and more. The challenge is all the greater for the many companies that do not have in-house technical pensions teams and instead rely on Group Finance, Treasury or HR, which can create capacity constraints.

Partnering with an external Global Actuary to act as the single point of contact on pensions accounting has a number of advantages:

  • Group Finance saves time by not having to interact with local teams on pensions topics;
  • the Global Actuary speaks “actuary to actuary” to resolve matters efficiently;
  • the final results receive a “pre-audit,” identifying and resolving any problems before they are shared with the external auditor, reducing the risk of last-minute adjustments or misstatements;
  • consistent methodologies across the Group, which is often not the case when different actuarial firms are employed in different countries;
  • close liaison with the pensions specialists of the external auditor to resolve issues in a timely and constructive manner.

Standard consolidation model:

Multiple lines of communication between Group Finance, local Finance teams and local actuaries.

Global Actuary model:

The Global Actuary coordinates all activities with the local actuaries, reviews and consolidates the results. Once finalised, these are communicated to local Finance teams in a coordinated and standardised way.


Daniel Tonks

Daniel Tonks


Daniel leads Deloitte Switzerland’s Pensions Advisory offering. He began his pensions consulting career in the UK in 2007 before moving to Switzerland in 2011. Daniel is a Fellow of the Institute and ... More

Morgan Schaeffer

Morgan Schaeffer


Morgan has joined Deloitte to focus on actuarial, reporting and regulatory topics. In his previous roles, he has been leading actuarial audits for numerous insurance companies and groups in Switzerlan... More