The Mine Health and Safety Council seeks an accredited service provider for a 36-month actuarial service to conduct post-retirement medical aid valuations. Key requirements include compliance with GRAP standards and the provision of actuarial reports for financial disclosures.
The Mine Health and Safety Council (MHSC) is inviting bids from accredited service providers to deliver actuarial services specifically for post-retirement medical aid (PRMA) valuations over a period of 36 months. The successful bidder will be responsible for developing a comprehensive valuation report in accordance with the Generally Recognized Accounting Practice (GRAP) standards, particularly GRAP 25, which pertains to employee benefits. This includes estimating the post-retirement medical aid liability for one employee and ensuring that all relevant accounting information is disclosed in the Annual Financial Statements.
In addition to the valuation report, the service provider will support the MHSC during the audit process, ensuring compliance with applicable GRAP standards. Bidders must demonstrate experience in actuarial valuations, provide evidence of qualifications, and submit all required documentation, including a valid Tax Compliance Status (TCS) PIN. This tender presents an opportunity for firms specializing in actuarial services to contribute to the health and safety sector while ensuring compliance with national accounting standards.
This tender is suitable for actuarial firms with expertise in post-retirement medical aid valuations, particularly those familiar with GRAP standards and public sector financial reporting. Businesses that can demonstrate relevant experience and compliance with South African regulations are encouraged to apply.