Sections

Software to calculate FRS17 figures from UBSL

UK - Large PLCs will now be able to calculate their own FRS17 figures, rather than wait for an actuary report, with a new FRS17 calculator from UBSL, pensions software solutions company.

"The volatility of the FRS17 figures represents a genuine risk to the business", says UBSL. "Pension costs are rising, and recent stock market fluctuations show that funding positions can worsen drastically over a short period of time."

The UBSL FRS17 Forecaster™, generating FRS17 forecasts for P&L, STRGL and balance sheet items, was designed to allow companies to predict and analyse their pension disclosures long before accounts are finalised. Monthly updates of predicted year end position as well as daily calculations can be made.

"Companies now no longer have to wait for actuaries to tell them what the FRS17 numbers will be. They can, instead, use the forecaster and include the figures in monthly and quarterly reports", says Robert Dales, actuary at UBSL.

The forecaster also allows assumptions to be altered so that the impact of any changes can be seen, enabling companies to track the potential year end surplus or shortfall.

Says Dales: "companies using the calculator can respond to shareholders concerns and queries immediately and accurately."

UBSL is currently marketing the forecaster, and expects to sell the first one at the beginning of November.

The forecaster has already been used by UBSL to show the FTSE 100 companies’ pension funds deficits. According to the results the pension schemes have lost £63bn (e102bn) since the start of the year taking their overall pension fund deficits to £59bn (e94bn).

UBSL is a joint venture by UBSi Group and HighamNobbs. Co-founder Richard Nobbs recently left HighamNobbs to start up his own consultancy company. HighamNobbs is likely to be rebranded to HNC as a result.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2519

    Asset class: Fund wrapper.
    Asset region: Global.
    Size: EUR 80m.
    Closing date: 2019-03-29.

Begin Your Search Here