Objectives

The primary objective of this tender is to appoint qualified and competent actuaries to perform actuarial valuations for post-employment benefits, specifically for Makhado Municipality for the financial year ending 30 June 2026. The appointed actuaries will be responsible for conducting valuations of unfunded liabilities related to post-employment benefits, including long service awards, in accordance with relevant Generally Recognised Accounting Practice (GRAP) standards.

Scope

The scope of the contract includes:

• Providing actuarial services to perform valuations of post-employment benefits for Makhado Municipality as at 30 June 2026.
• Valuating unfunded liabilities associated with post-employment benefits, including long service awards.
• Ensuring compliance with applicable GRAP standards and relevant accounting practices.
• Engaging with retirees and their registered beneficiaries as at the valuation date.
• Providing a comprehensive report detailing the actuarial valuation results.

Technical Requirements

The technical requirements for the tender include:

• Performing an actuarial valuation of the unfunded liabilities related to post-employment benefits.
• Ensuring the valuation aligns with the requirements of the relevant GRAP standards.
• Providing detailed documentation and reports on the valuation process and results.
• Demonstrating experience and competence in actuarial valuations for similar entities and benefits.
• Submitting references and client details to verify experience.

Skills Requirements

The successful bidder must possess the following skills and qualifications:

• Qualified actuaries with relevant professional certification.
• Experience in performing actuarial valuations for post-employment benefits, especially in the public sector or municipal context.
• Knowledge of GRAP standards and accounting practices related to employee benefits.
• Ability to prepare comprehensive actuarial reports and documentation.
• Strong analytical and communication skills to present findings clearly.
• Proven track record with references from previous clients.