Request for Bid – Appointment of Actuarial Consultancy 08- 2015

Request for Bid – Appointment of Actuarial Consultancy 08- 2015

08.08.2015 | Categories: click here to download document >

(CLOSED)
(RFP) Actuarial Consulting Services for the Municipal Councillors Pension Fund

Overview

The Municipal Councillors Pension Fund was established on the 1st May 1988 in terms of the Pension Benefits for Local Authorities The Municipal Councillors Pension Fund was established on the 1st May 1988 in terms of the Pension Benefits for Local Authorities Act 105, 1987 as the only Fund to service the retirement needs of Municipal Councillors .

The Fund was originally a Defined Benefit Fund but has since been restructured to a Defined Contribution Pension Fund. The Fund’s asset value totalled R2.4bn as at the end of May 2015 . MCPF is currently managed by the Board of Trustees, nine of whom are member – elected, two independent trustees and a further two appointed by SALGA. As part of managing the Funds’ affairs MCPF requires the services of an FSB approved Valuator to provide information to the Board of Trustees and the Principal Executive Officer based on this RFPAct 105, 1987 as the only Fund to service the retirement needs of Municipal Councillors.

The Fund was originally a Defined Benefit Fund but has since been restructured to a Defined Contribution Pension Fund. The Fund’s asset value totalled R2.4bn as at the end of May 2015. MCPF is currently managed by the Board of Trustees, nine of whom are member – elected, two independent trustees and a further two appointed by SALGA. As part of managing the Funds’ affairs MCPF requires the services of an FSB approved Valuator to provide information to the Board of Trustees and the Principal Executive Officer based on this RFP

Objective of the Request for Proposal

The objective of this Request for Proposal (RFP) is to invite parties, in good tax standing, to Objective of the Request for Proposal The objective of this Request for Proposal (RFP) is to invite parties, in good tax standing, to submit proposals for consideration to be appointed to provide professional actuarial consulting services to the MCPF for a period of three (3) years.

These Terms of Reference are intended to define the purpose, scope of work and deliverables of the actuarial consulting services for the MCPF for which the appointment of a service provider is required submit proposals for consideration to be appointed to provide professional actuarial consulting services to the MCPF for a period of three (3) years. These Terms of Reference are intended to define the purpose, scope of work and deliverables of the actuarial consulting services for the MCPF for which the appointment of a service provider is required.

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