2006 - Central Bank of Trinidad and Tobago
2006 - Central Bank of Trinidad and Tobago
2006 - Central Bank of Trinidad and Tobago
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ACTUARIAL INVESTIGATIONSSUMMARIES OF THE RESULTS AND RECOMMENDATIONSOF THE ACTUARIAL INVESTIGATIONS ARE REPORTED HEREUNDER (continued)NAME OF PLANACTUARYVALUATIONDATERESULTS ANDRECOMMENDATIONSBel Air InternationalAirport Hotel Ltd.Pension Fund PlanEckler Partners89.08710.9100.00389.76310.1920.045June 1, 200590.9089.0580.034The valuation revealed a deficit <strong>of</strong>91.868 93.004$563,068 with a funding level <strong>of</strong> 41.19%.It was recommended 8.100 that:-6.963(a) The Company increase its’ monthlycontribution 0.032 s to $15,000. 0.033The next valuation should be conductedon or before June 1, 2008.Associated Br<strong>and</strong>sLimited Group PensionBacon Woodrow &De SouzaJanuary 1,2005The valuation revealed a past servicesurplus <strong>of</strong> $5.084 million with afunding level <strong>of</strong> 117%.It was recommended that:-(a) The Trustees review the Plan’sinvestment strategy with the Plan’sManagement Committee <strong>and</strong> theCompanies with a view to diversifyingthe asset portfolio in conjunction witha formal Statement <strong>of</strong> Investment Policywhich is regarded as a key element <strong>of</strong>a strong governance structure for apension plan.The next valuation is due to take place asat January 1, 2008.TEXTEL Pension PlanBacon Woodrow & DeSouzaMarch 31,2005The valuation revealed a past servicesurplus <strong>of</strong> $171.7 million with afunding level <strong>of</strong> 169% after adequateprovision has been made to fundbenefits at the TSTT Plan level includingEERP enhancementsIt was recommended that:-(a) No contributions to the Plan areneeded from TSTT for the time being.The next actuarial valuation is due totake place as at March 31, 2008.68REPORT ON INSURANCE AND PENSIONS
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