Objectives

The primary objective of this tender is to appoint a qualified service provider to perform GRAP 25 actuarial valuations for employee benefits, specifically focusing on Post-Employment Medical Aid Subsidy (PEMA) liabilities and Long Service Award (LSA) liabilities. The service provider will also prepare comprehensive liability reports, including necessary disclosures, and assist in setting or reviewing economic and demographic assumptions. Additionally, the provider must resolve any audit queries related to employee benefit obligations and long service award liabilities.

Scope

The scope of work includes, but is not limited to:

• Valuation and reporting of PEMA liabilities at the end of the financial year within two weeks of receiving employee data.
• Valuation and reporting of LSA liabilities at the end of the financial year within two weeks of receiving employee data.
• Preparation of liability reports with all necessary AFS disclosures.
• Setting and reviewing economic and demographic assumptions relevant to the valuations.
• Resolving audit queries related to employee benefit obligations and long service awards.

Technical Requirements

The technical requirements for the tender include:

• Valid and current company registration certificates, including shareholder details (e.g., CK1, CK2).
• Valid Tax Clearance or PIN documentation.
• Full report from the Central Supplier Database (CSD).
• If applicable, a Joint Venture agreement.
• Proof of municipal rates and taxes not older than three months or lease agreements with relevant rates and taxes documentation.
• Completion and submission of the MBD 4, 8, and 9 forms, signed and initialed.
• Registration on the Central Supplier Database with attached confirmation.
• Pricing proposals submitted independently by the service provider.
• Ability to deliver services within the Modimolle-Mookgophong Municipality jurisdiction.

Skills Requirements

The successful service provider must demonstrate:

• Expertise in actuarial valuations, particularly under GRAP 25 standards.
• Experience in employee benefit liabilities, including PEMA and LSA valuations.
• Ability to prepare detailed liability reports with appropriate disclosures.
• Knowledge of economic and demographic assumption setting and review.
• Capacity to address and resolve audit queries efficiently.
• Compliance with all legal and municipal requirements, including B-BBEE/EME certification.
• Proficiency in working within municipal and governmental frameworks and policies.