Pulse – Thailand – October 2017
Thailand: New mortality assumptions for long-term employee benefits accounting.
The Thai insurance regulator, the Office of Insurance Commission (OIC), has recently released new insured lives mortality tables. It is expected that companies will adopt the new TMO17 tables as the mortality assumption for valuing their post-retirement and other long-term employee benefits under Thai Accounting Standard 19 (TAS19) and similar international accounting standards.
In this edition of Pulse, we provide commentary on the introduction of the new mortality tables, compare the new tables to the previous ones, and estimate the likely impact on companies’ balance sheet liabilities and profit or loss costs for post-retirement benefits.
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Contacts
Mark Whatley
Principal and Consulting Actuary, Milliman
VIEW PROFILE
Email:
mark.whatley@milliman.com
Tel: +65 63272311
Mark Whatley
Principal and Consulting Actuary, Milliman
A highly driven employee benefits and retirement specialist internationally.
Mark provides independent and objective consulting advice on employee benefits to multinationals, local companies and government-linked organisations.
Mark has over 23 years of employee benefits, retirement and financial services experience gained in Asia, Europe and Africa.
Before joining Milliman, Mark headed Willis Towers Watson’s benefits consulting business in South East Asia for over seven years, with teams in five countries.
Mark is an expert on benefits and retirement practice in each market in the region, gained from single and multi-country project experience, including; benefits review and optimisation, retirement plan design, retirement actuarial valuation, retirement and benefits administration, flexible benefits design and pricing, benefits communication, pre-M&A benefits due diligence and post-M&A benefits harmonisation. He has also worked on several multi-streamed HR transformation projects across the region.
Contacts
Mark Whatley
Principal and Consulting Actuary, Milliman
VIEW PROFILE
Email:
mark.whatley@milliman.com
Tel: +65 63272311
Mark Whatley
Principal and Consulting Actuary, Milliman
A highly driven employee benefits and retirement specialist internationally.
Mark provides independent and objective consulting advice on employee benefits to multinationals, local companies and government-linked organisations.
Mark has over 23 years of employee benefits, retirement and financial services experience gained in Asia, Europe and Africa.
Before joining Milliman, Mark headed Willis Towers Watson’s benefits consulting business in South East Asia for over seven years, with teams in five countries.
Mark is an expert on benefits and retirement practice in each market in the region, gained from single and multi-country project experience, including; benefits review and optimisation, retirement plan design, retirement actuarial valuation, retirement and benefits administration, flexible benefits design and pricing, benefits communication, pre-M&A benefits due diligence and post-M&A benefits harmonisation. He has also worked on several multi-streamed HR transformation projects across the region.