PWS Tasks (b) · (e) · (f) — live demonstration

IAS 19 Valuation Lab

A projected-unit-credit valuation engine running in your browser on a fictitious 167-member demonstration plan. Move the assumptions and watch the obligation, service cost, duration, and funded position respond. At award, the synthetic census is replaced by the real one; the machinery you are using is the machinery the engagement uses.

118 actives27 deferred22 retireesSynthetic data only

Assumptions

Results

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Defined Benefit Obligation (EUR)
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Funded ratio (illustrative assets ÷ DBO)
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Current service cost (EUR / % of payroll)
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Liability duration (years) → sets the discount-curve read
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Surplus / (deficit) vs illustrative assets of €10.6M
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Interest cost (next-year unwind at the discount rate)

Sensitivity tornado — change in DBO by scenario

Obligation by member status

Projected benefit cash flows (EUR/yr, 40 years)

Demonstration census — active age distribution

Method notes

Projected unit credit

Benefits are projected with salary growth to each member's retirement cohort, attributed to service per IAS 19 ¶67-69, discounted on the high-quality corporate bond basis of ¶83, with survival and withdrawal decrements applied. Deferreds are valued on frozen benefits with their death-cover elections; retirees on immediate annuities with survivor reversion.

What is demonstration-grade here

Mortality uses a Makeham approximation calibrated to Belgian longevity (e65 about 20.5 M / 23.2 F) rather than the official IA|BE 2020 tables, the survivor reversion is a load rather than a joint-life calculation, and assets are a fixed illustrative figure. Production runs replace all three with the official tables, exact joint-life math, and the insurer's audited reserve statements.

Why duration matters

The engine measures liability duration and the discount rate is then read from the published euro AA curve at that duration (4.28% at 11y, 4.49% at 16y, 4.63% at 25y as of 7/31/2026). Assumption-setting becomes mechanical and defensible rather than negotiable.

Synthetic data. The demonstration plan (census, benefit formula, assets) is fictitious and generated with a fixed random seed for reproducibility. It contains no information about the actual Embassy plan. Vested rights: under Belgian WAP rules acquired reserves vest after one year of affiliation, so accrued obligations shown are effectively fully vested; the engagement report will show the vested / non-vested split exactly as the RFQ requires.