Case study
End-Of-Service Benefits System and Retirement Fund
Project | End-Of-Service Benefits System and Retirement Fund
|
Client | Arab Bank for Economic Development in Africa |
Associated Firm | – |
Location | Sudan |
Type | Management
|
Sectors | Management Consulting
|
Date | 11/2002 – 12/2003
|
Project Details
Two different options for an end-of-service benefits systems where developed to satisfy the need to add an attractive end-of-service component to the package offered by the bank who is on a continuous search for highly qualified staff, especially development officer, technical and financial experts/analysts.
Option one retirement fund
A study, comprising actuary calculations and cost projections, was proposed. But it seemed that the fund management is too demanding. The second option was then considered.
Option two: reviewing the most recent end-of-service benefits system.
A study aiming at upgrading the end-of-service system and increasing its benefits was performed and was agreed by the client as it seems to fit his demands.