Vincles Grup Crèdit Andorrà

Social Welfare Consultancy

Social welfare means foreseeing and covering social and economic needs.

The Social Welfare Consultancy defines the measures it is necessary to introduce in order to guarantee a certain level of care and provide benefits for employees when confronted with social and economic needs.

The growing concern for the viability of pension systems and the ageing population means it is necessary to add to this coverage with private welfare systems.

For a company, a welfare plan has various aims:

  • To increase employees' motivation.
  • To improve staff loyalty.
  • To modernize the income system.
  • To protect employees economically.
  • To attract professionals by having a more attractive income system.
  • Greater motivation
  • Improved productivity
  • Increased company profit

There are three types of Social Welfare system:

Management of social welfare systems

  • Writing actuarial reports.
  • Economic viability studies: projections, scenarios, sensitiveness.
  • Financial and actuarial reviews of pension plans.
  • Transformations from defined benefit systems to defined contribution systems.
  • Regularizing of welfare systems.
  • Calculation of public benefits for expatriates.
  • Due diligence for social welfare in merger and takeover processes.

Introduction of social welfare systems

  • Breakdown analysis of the workforce.
  • Designing different retirement systems.
  • Evaluation of costs / benefits.
  • Assessment on the development of regulations
  • Choosing the instrument for financing.
  • Plan to communicate the system to the employees.
  • Launching and monitoring of the plan.

Actuarial studies for public administrations

  • Economic viability studies for public welfare benefits.
  • Assessment of public pensions.
  • Actuarial reports for evaluating agreements with civil servants.
  • Analysis and studies on improvement in the efficiency of managing absenteeism.
  • Introduction of early retirement schemes.