Objectives

The primary objective of this tender is to solicit proposals from qualified service providers to render actuarial valuation services for the uMfolozi Local Municipality's employee benefits in accordance with GRAP 25. The goal is to ensure accurate and compliant valuation of municipal employee benefits to support financial reporting and decision-making.

Scope

The scope of work includes:

• Providing actuarial valuation services specifically for municipal employee benefits.
• Delivering the valuation in compliance with Generally Recognized Accounting Practice (GRAP) 25.
• Submitting a single valuation report as specified in the tender.

Technical Requirements

The technical requirements for the service provider include:

• Provision of actuarial valuation services for municipal employee benefits as per GRAP 25 standards.
• Submission of a comprehensive valuation report.
• Adherence to the specified quantity (1) for the valuation service.
• Compliance with all applicable legal and regulatory standards.
• No proposals from persons in the service of the state will be considered.

Skills Requirements

The successful service provider must demonstrate:

• Expertise in actuarial valuations, particularly in municipal employee benefits.
• Knowledge of GRAP 25 standards and relevant accounting practices.
• Experience in providing similar actuarial services to municipalities or public sector entities.
• Ability to deliver accurate, timely, and compliant valuation reports.