WHAT WE DO
Insurance Services
Employee Benefits
Financial Advisory
Banking & Financial
ESG & Sustainability
Financial Reporting
Capital, Solvency & Risk
Investment & Asset Management
Corporate Advisory
Data & Technology
Phone:
+971 4 876 8530Email:
[email protected]
Actuarial valuations, scheme design, and advisory for end-of-service benefits, pensions, post-employment medical, and alternative savings plans.
Discuss your requirementsEmployee benefit obligations are among the most material liabilities on corporate balance sheets. Every employer in the UAE and wider GCC must provision for end-of-service gratuity under local labour law — and many also sponsor pension schemes, post-employment medical benefits, or long-service awards that carry additional actuarial obligations.
Lux provides the actuarial expertise to measure these liabilities under IAS 19, design schemes that attract and retain talent, and advise on the new alternative savings frameworks (UAE Cabinet Resolution No. 96 of 2023) that are transforming how employers in the region think about end-of-service benefits.
We serve corporates, government entities, and scheme trustees across the GCC, Africa, and Europe with audit-ready reports and transparent methodology.
IAS 19 requires organisations to recognise the cost of employee benefits in the period they are earned. We perform actuarial valuations using the Projected Unit Credit method to calculate the present value of defined benefit obligations for gratuity, pensions, and post-employment medical benefits.
Our reports are structured to mirror IFRS disclosure schedules, so your finance teams and external auditors can adopt them without friction.
UAE Cabinet Resolution No. 96 of 2023 introduced the Savings Alternative System, allowing employers to invest end-of-service benefits in approved funds instead of holding unfunded liabilities on the balance sheet. This is the most significant change to UAE employment law in decades.
Lux is CMA-licensed (Category 5 Financial Consultations) to perform the financial consulting and advisory required under this framework. We help employers transition from unfunded gratuity to funded savings schemes, select and monitor approved investment vehicles, and manage the ongoing compliance requirements.
Defined benefit pension schemes require regular actuarial valuations to assess funding adequacy and determine sponsor contribution levels. We value pension obligations for regulatory filings, corporate accounting, and trustee governance.
Post-employment medical benefits (often called OPEB or retiree medical) are a long-tail liability that can rival pension obligations in size. We value these obligations using demographic projections, healthcare cost trends, and medical inflation assumptions.
Benefit scheme design balances talent attraction with cost control. We design retirement, savings, and risk benefit schemes that meet employer objectives while remaining competitive with market practice.
IAS 19 is the international accounting standard for employee benefits. An actuarial valuation under IAS 19 measures the present value of an employer's obligations for gratuity, pensions, and post-employment medical benefits using the Projected Unit Credit method. The results appear in the financial statements.
Cabinet Resolution No. 96 of 2023 introduced the Savings Alternative System in the UAE, allowing employers to invest end-of-service benefits in approved funds. It transforms gratuity from an unfunded balance-sheet liability to a funded, investment-linked savings scheme.
Annually for financial statement reporting. Interim roll-forward valuations may be needed if there are material changes to the workforce, benefit structures, or economic assumptions during the year.
The actuarial cost method required by IAS 19 for measuring defined benefit obligations. It projects each employee's benefit entitlement forward to the expected payment date, then discounts back to present value. Benefits are attributed to past service proportionally.
IFRS 17, IFRS 9, IFRS 2, and IAS 19 actuarial implementations, ongoing compliance, and managed reporting services.
CMA-licensed (Category 5) financial consulting, investment product analysis, suitability advisory, and corporate financial planning in the UAE.
Asset-liability management, strategic asset allocation, liability-driven investment, manager selection, and insurance investment strategy.
Talk to our actuaries about IAS 19 valuations, scheme design, or transitioning to the UAE alternative savings framework.
Request a Proposal