Project

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.

 


    1. 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.


 


  1. 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.