PwC's approach to your pension strategy centres around a human-led but tech-enabled approach, to reduce compliance burdens, enabling you to focus your time and energy on addressing the strategic issues facing your businesses. We have a suite of new technologies across our network of firms, to help drive efficiencies and allow you to understand data and information in a more natural and visually accessible way.

Our Consolidate tool does just that. At PwC, we know that companies need to include liabilities for all their employee benefit plans in their annual financial statements and often more frequently. For multinationals, this can be a big challenge, as it means data collection, liability calculation and decision-making for different types of plans and different jurisdictions. Our Consolidate tool makes this process seamless, producing accurate figures whether you have one employee benefit plan or hundreds.

Whilst consolidating your global pensions numbers for financial reporting can be a challenge, it also presents an opportunity.

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Why Consolidate?

  • Consolidate your worldwide pension expense for financial reporting, quickly and efficiently.
  • Integrated end-to-end process, from information collation to disclosures.
  • Web-based interactive results that are easily accessible.
  • Downloadable user-customised disclosures compliant with IFRS and/or US GAAP.
  • Assess the impact of economic changes to avoid surprises before the year-end.
  • Automated checks performed on key income statement and balance sheet items.

The opportunity

The process of collecting data for year-end reporting also presents companies with an opportunity. The data can be harnessed to provide insights into your global benefit obligations and costs, enabling you to identify where costs might be reduced and risks managed.

Additional features:

  • Interrogate and analyse your results online, drilling down by country, region, plan type, etc.
  • Project your year-end consolidated results to any date, capturing market movements, to assess the current financial health of your plans.
  • Easily see where your largest liabilities and pension costs are, identifying opportunities to manage these.
  • Set your priorities for the year ahead, including: changes to benefit design, de-risking and reviewing financial strategy.

Our expertise

Globally, we have 3,350 specialists dedicated to retirement, pension and benefits in 54 countries, assisting over 1,000 companies with financial reporting and other benefit issues.

PwC’s technology-enabled solutions approach to the retirement benefits market continues to resonate with clients. PwC’s network of firms is effective in blending people and technology into a strong advisory tool that helps to streamline client operations, improves transparency, creates an atmosphere for enhanced agility and provides real-time metrics on performance that mitigates risk.

Matthew Merkersenior analyst and author of ALM's 2019 report: retirement and benefits
ALM Intelligence: Vanguard Leader in Retirement Benefits Consulting, 2019
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Contact us

Paul Allen

Paul Allen

Financial Reporting for Pensions Leader, PwC United Kingdom

Tel: +44 (0)7803 859050

Raj  Mody

Raj Mody

Global Leader for Retirement & Pensions, PwC United Kingdom

Tel: +44 (0)7974 969320