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CONSULTING SERVICES FOR MUNICIPAL PERNSION, RETIREMENT AND PROVIDENT FUND SCHEME ANALYSIS

Request For Expressions of Interest

General Information

South Africa
   EOI: 02/201 7
   Apr 9, 2017
   Apr 21, 2017
   English
   International procurement

Contact information

   Ms Daisy Nyamane
National Treasury 240 Madiba Street
South Africa
   (012) 315 5626
   Click here

Assignments

Pension fund consultancy services  

Original Text

      
The Republic of South Africa has received funding from the African Development Bank toward the Municipal Financial Management Capacity Building Support,and intends to apply part of the agreed amount for this funds to payments under the contract for consultancy services for the analysis of municipal pension, retirement and provident fund schemes presently utilised across local government.The objective of this assignment is firstly, to verify the number of pension, retirement and provident fund schemes that presently support local government and then to establish their financial standing and legitimacy in terms of the local government legal framework. The services included under this project are: Compilation of an all-inclusive list of municipal pension funds, retirement and provident fund schemes currently operating in the South African sphere of local government; (i) Undertake an assessment of the complex issues that these schemes are confronted with in terms of financial sustainability; (ii) Provide the National Treasury with copies of the most recent audited Annual Financial Statements and annual reports for each of the schemes identified in (i) above; (iii) Undertake an analysis of the assets and liabilities of each of the schemes for at least the last five financial years, analysis and articulate the associated risks; (iv) Compile a comprehensive report on the findings that National Treasury can share with other stakeholders; (v) Provide an actuarial report that clearly indicates the risks associated with the fund; and (vi) Make recommendations on (a) how to improve the quality of reporting by the various schemes; (b) how to standardize reporting to facilitate comparisons and assessments of the various schemes; (c)introducing measures to monitor and enforce the schemes’ compliance to the legal framework governing the pension funds and local government; and (d) amendments, if deemed necessary, to the existing legal framework that will facilitate improving how the schemes currently operate. The assignment will be executed over a period of126working days(six months). .

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