This tender seeks actuarial services for evaluating long service awards at Polokwane International Airport over three financial years. Bidders must provide a comprehensive actuarial valuation report in compliance with relevant accounting standards.
The Limpopo Gateway Airport Authority Limited requires specialized actuarial services to assess its liability for long service awards granted to employees. The selected consultant will be responsible for conducting annual actuarial valuations for the financial years 2025/2026, 2026/2027, and 2027/2028, ensuring compliance with the Accounting Standards Board Directive 5 and the Statement of Generally Recognized Accounting Practice 25 (GRAP 25), which aligns with International Accounting Standard 19 (IAS 19).
Bidders must demonstrate their expertise in actuarial services, particularly in the context of employee benefits. The scope of work includes providing detailed actuarial reports that will be integrated into the annual financial statements of the authority. The evaluation of bids will be based on administrative compliance and a preference point system, emphasizing the importance of submitting all required documentation accurately and on time. This tender presents an opportunity for qualified actuarial firms to contribute to the financial sustainability of the airport authority while ensuring fair recognition of employee service.
This tender is suitable for actuarial firms and consultants with expertise in employee benefits and financial reporting, particularly those familiar with South African accounting standards and regulations.