Seeking a qualified service provider for actuarial services related to the GRAP 25 valuation of the non-funded post-retirement medical subsidy benefit. The project aims to ensure compliance with accounting standards and accurate financial reporting.
The Agricultural Research Council is inviting proposals from experienced actuarial service providers to conduct a GRAP 25 valuation of the non-funded post-retirement medical subsidy benefit. This valuation is crucial for ensuring compliance with the Generally Recognized Accounting Practice (GRAP) standards, which govern the financial reporting of public entities in South Africa. The selected service provider will be responsible for assessing the financial implications of the medical subsidy benefit, providing insights into the liabilities associated with it, and ensuring that the valuation aligns with best practices in actuarial science.
The scope of work includes a comprehensive analysis of current and projected medical subsidy costs, demographic assessments of eligible retirees, and the development of actuarial assumptions that reflect the organization's specific circumstances. The successful bidder will also be required to prepare detailed reports and presentations to communicate findings to stakeholders, ensuring transparency and understanding of the valuation process. This tender presents an opportunity for actuarial firms with a strong background in public sector valuations to contribute to the financial integrity of a key public institution.
This tender is suitable for actuarial firms with expertise in public sector financial reporting and experience in conducting GRAP valuations. Businesses that have a strong understanding of medical subsidy benefits and can provide detailed analytical reports are encouraged to apply.