Audit of Contracts, Processes and Vesting
Audit of Contracts, Processes and Vesting to identify irregularities and optimize the Private Pension Plan.
Contract Audit
The Contract Audit includes the careful investigation of the following items:
- Hidden liabilities
- Inconsistencies between rules and documents
- Full compliance with the laws and regulations
- Technical and legal security
- Protection of participant’s rights
- Technical writing review to accurately portray plan objectives and client strategy
- Verification with SUSEP of the products provided for in the contract and their respective technical conditions
Process Audit
The Process Audit includes the detailed verification of the following items:
- Invoice value versus credited value
- Date of credit of contributions according to contract rules
- Value of credit and amount of shares credited versus value and amount of the day’s share
- Value of credit versus discounted value
- Fund credited versus fund chosen by the participant
- Registered tax regime versus chosen tax regime
- Credit in the financial vehicle versus chosen financial vehicle
Vesting Audit
The Vesting Audit includes the detailed checking of the following items:
- Consistency between the personnel turnover information provided by the client and the Vesting criterion that was applied by the insurer for termination or other movements
- Review of Vesting calculation
- Review of redemption payment – value versus share
- Review of the application of the Deferred Proportional Benefit Institute, if any
- Review of plan surpluses transferred to the global account