Actuarial Valuations of the Post-employment Medical Aid Subsidy and Long Service Award Liability in Accordance with Grap25 and Accounting Standards and Any Post-project Auditor Queries for the Period of Three Years

LIM473/Actuarial/25/26/029

See details below or the tender documentation

Tender Closed on: 2026-05-25 12:00

Actuarial Services, Valuation Services

Groblersdal, Jane Furse, Limpopo

Makhuduthamaga Local Municipality

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Makhuduthamaga Local Municipality Tenders

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Tender Number: LIM473/Actuarial/25/26/029
Department: Makhuduthamaga Local Municipality
Tender Type: Request for Bid(Open-Tender)
Province: Limpopo
Closing Date: Monday, 25 May 2026 - 12:00
Place where goods, works or services are required: Stand no 1,Groblersdal Road - Jane Furse - Jane Furse - 1085
Special Conditions: N/A
ENQUIRIES:
Contact Person: Mr Mothapo
Email: [email protected]
Telephone number: 013-265-8625
FAX Number: N/A
BRIEFING SESSION:
Is there a briefing session?: NO Is it compulsory? NO
Briefing Date and Time:
Briefing Venue:

This tender is also available from www.etenders.gov.za


Tender Summary

Objectives

The primary objective of this tender is to commission a qualified service provider to perform actuarial valuations of the Post-employment Medical Aid Subsidy and Long Service Award liabilities for Makhuduthamaga Local Municipality. The valuations must be conducted in accordance with GRAP25 and relevant accounting standards, including addressing any post-project auditor queries, over a period of three years. The aim is to ensure accurate financial disclosures and compliance with applicable standards.

Scope

The scope encompasses:

  • Performing actuarial valuations of the municipality’s post-employment medical aid subsidy liabilities for employees and retirees, including dependants.
  • Performing actuarial valuations of the municipality’s unfunded liability for Long-Service Awards.
  • Addressing any post-project auditor queries related to these valuations for a three-year period.
  • Additional scope includes supply and development of a GRAP104 compliant expected credit loss model for receivables and other financial instruments related to the municipal Annual Financial Statements (AFS) for three years.

Technical Requirements

The technical requirements include:

  • Provision of comprehensive actuarial valuations aligned with GRAP25 and relevant accounting standards.
  • Use of appropriate actuarial methods and models to estimate liabilities accurately.
  • Development of a customized expected credit loss model compliant with GRAP104 for receivables and financial instruments.
  • Addressing any auditor queries post-project within the specified period.
  • Submission of detailed reports, supporting documentation, and compliance with all bid specifications.

Skills Requirements

The successful bidder must demonstrate:

  • Qualified actuaries registered with the Actuarial Society of South Africa (ASSA), including Fellow status (FASSA).
  • Proven experience in performing actuarial valuations for municipal or similar entities, with evidence of successful completion of relevant projects.
  • Expertise in GRAP standards, particularly GRAP25 and GRAP104, and familiarity with financial modeling for expected credit loss calculations.
  • Ability to address post-project auditor queries effectively.
  • Strong analytical, reporting, and communication skills to deliver clear, compliant, and comprehensive valuation reports.
This summary is AI generated. Download the tender documents for all the information.

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