Actuarial service is a way of determining, assessing, and planning the financial impact of risk by companies. In the insurance and finance industries, actuaries use mathematical and statistical methods to evaluate the risk levels. Other fields, such as economics, probability, and computer programming, are also made use of to create actuarial models. This is how insurance companies predict future payouts.

Actuarial valuation and reporting of End of Service Benefits is more than just calculating the present value of the defined benefit obligation. Instead, it requires a more detailed analysis of the liability and the key drivers behind it.