Employee Benefits Valuation (TAS19)

We help valuation defined benefit obligation according to Thailand Accounting Standards 19 (TAS19).

Valuation of employee benefit liabilities for post-employment benefits or long-term benefits It involves complex valuations and has long-term effects on a company’s financial position. Therefore, it is necessary that an actuary must have expertise in valuating the future outcomes using statistical data combined with professional experiences.

For companies need to use this service. All public companies, Listed Companies, or companies that want to be listed on stocks, Initial Public Offering (IPO), or companies that have changed to use an accounting standards with Publicly Accountable Entities (PAEs)

  • Thailand Accounting Standard No. 19 (TAS19)
  • International Accounting Standard No. 19 (IAS 19)

By welfare for employees that need our services, such as post-employment benefits, pensions, post-retirement life insurance, retirement compensation and medical expenses and other benefits such as long-term benefits, accumulated leave rights

Feature Insight

We are the expert in employee benefits valuation. Get ready for a
new technology that can accurately evaluate with simpler.

benefits

Experience in valuing a vast array of benefit types.

Legal Severance Pay (LSP)          

Long Service Awards (LSA)

  • Long Term Health Care Benefit
  • Long Service Awards, Incentive, gold awards or other gift

Extra Retirement Bonus 

How to begin

We focus on starting processes and delivering jobs that are easy, fast, reliable, according
to accounting-standard with efficient processes, and state-of-the-art technology.

Data Works

Employee data preparation for valuation, such as employee information and employee movement information, Then the data will be verified for the correctness of the information before starting. The personal information of employees will not disclose, we use only employee IDs as a proxy.

Understanding Data & Assumptions

Actuary needs expertise in valuating employee benefits reserve and future outcomes by selecting suitable assumptions using company experiences combined.

Report & Audit

Prepare to submit a valuation report according to IAS19 or TAS19 accounting standards, including signed by a Fellow Actuary, and will promptly respond to queries from the auditor.

Why Us?

Valuable Advice

We strive to provide you with valuable advice and responding to auditors’ questions.

Prompt Services

We provide services with professional, fast service after data confirmation
and on-time work submission
guaranteed.

Highest Standard

Qualified Fellow Actuaries are ready to give advice.

Premium Quality in your reach

Quality service at a reasonable budget

Frequently Asked Questions about Employee Benefit Calculation Services

  • Why should we use the Employee Benefit Calculation Service?

    The Employee Benefit Calculation Service, whether for pension funds, healthcare, or other benefits, helps organizations comply with accounting standards such as TAS 19, as required by law. It also ensures transparency in financial data, reduces the risk of audit scrutiny, and enables more effective budget planning. This service is especially important for medium and large-sized companies.

  • What information does the organization need to prepare?

    The organization needs to prepare the following information: the number of employees, years of service, current benefits, such as provident funds, severance pay, health insurance, payment data from the previous year, salary rates, and the percentage of annual salary increases.

  • How long does the process take?

    Typically, the process takes about 2-4 weeks, depending on the size of the organization and the complexity of the data involved.

  • What types of benefits are covered under TAS 19 calculation services?

    Thai Accounting Standard 19 (TAS 19) covers employee benefits in the following areas:
    – Post-employment benefits, such as pensions, retirement funds, and other related contributions.
    – Short-term benefits, such as salaries and bonuses.
    – Benefits after termination, in cases where employees leave before retirement, such as in the case of dismissal.
    – Other benefits, such as employee work anniversary rewards (e.g., 10-year service awards).
    BlueVenture Actuarial offers comprehensive services for calculating employee retirement benefits and other long-term benefits defined by TAS 19, and can also assist in answering questions from auditors.

  • What are the costs for the service?

    Service fees start at 1x,xxx THB, depending on the organization’s size, the complexity of the benefits, and other factors. For more details, you can contact BlueVenture Actuarial at 02167-3012-14.