Valtech Valuation Calculator for Long Service Payment (LSP) and Severance Payment (SP)
Valtech Valuation has updated and enhanced their LSP valuation model based on Projected Unit Credit Method, making reference to the HKICPA issued comprehensive guidance for the accounting for the impact arising from the abolition of the Mandatory Provident Fund (MPF)-Long Service Payment (LSP) offsetting mechanism (the "Abolition") on entities in Hong Kong. Past service cost should be recorded in the year of enactment of the Amendment Ordinance.