NSSF
BOARD OF TRUSTEES NATIONAL SOCIAL SECURITY FUND
TENDER NO.PA/004/HQ/2019-2020/HQ/CS/09
FOR
REQUEST FOR EXPRESSION OF INTEREST FOR PROVISION OF CONSULTANCY SERVICES FOR THE ACTUARIAL VALUATION AS OF 30THJUNE 2019
The Board of Trustees of National Social Security Fund (NSSF) has set aside funds in its 2019/2020 budget. it is intended that part of the funds will be used to meet payments for Actuarial Valuation as of 30th June, 2019
The Board of Trustees of National Social Security Fund (NSSF) now invites qualified consultants to express their interest in providing the required services.
The consultant must have previous experience and required qualifications in similar assignments which include:
- Review of the legislation.
- Review the data and collection additional data requirements.
- Perform an experience analysis.
- Review and perform optimization of the investment Policy.
- Data processing, model fitting, calibration, and adjustment.
- Demographic and financial projection.
- Perform an Asset Liability Modeling to provide a picture of optimal asset allocation. Review of actuarial results and calibration.
- Reconciliation with the previous valuation.
- Perform a sensitivity analysis including options for pension indexation.
- Assess the impact of introduction of unemployment benefit
- Assess the impact of possible legislative changes
- Submission of a draft Actuarial Valuation Report.
- Submission of a final Actuarial Valuation Report.
Interested firm must submit relevant information indicating their qualifications for performing the required services. Information required shall include but not limited to
- The lead Consultant should be a qualified Actuary specialized in pension who is certified Fellow of Institute or Faculty of Actuaries(FIA), or any other International recognized institution
- The Assistant to the Consultant should have at least a Master’s degree in Actuarial Science or their equivalent with specialization in pension
- The lead Consultant should have at least 10 years of working experience in actuarial matters particularly on Social Security Pensions and Employee Benefits.
- The Lead Consultant should have knowledge of Actuarial modelling using both closed approach and open approach preferable use of ILO Pension Model
- The Lead Consultant should have done at least three assignment of social security pensions (verifiable reference letters from clients should be attached)
- The assistant Team Leader should have at least 8 years of local working experience in actuarial matters on Social Security Pensions
- The Consultant should have knowledge of the country in terms of political and economic status and general demographic and health behaviors or any other related country of similar characters within East Africa
- The assistant Team Leader should have a broad knowledge of the Social Security Industry in Tanzania including an understanding of the policy. legal framework, and practice
A consultant will be selected in accordance with the Public Procurement (Selection and Employment of Consultants) Regulations, 2013 made under GN No. 446 of 20th December. 2013 and its amendment of 2016 made under GN 333 of 2016.
Interested consultants may obtain further information at the office of the Secretary of the Tender Board, 7th floor, NSSF Head Office, Benjamin William Mkapa Pensions Towers (Tower B) at junction of Azikiwe/Jamhuri Streets, P. O. Box 1322, Dar es Salaam, from 8.00am to 5.00pm on Mondays to Fridays inclusive except on public holidays.
Expression of interest must be delivered to Director General, NSSF, 04th Floor of Benjamin William Mkapa Pension Towers Azikiwe Street, Dar es Salaam on or before Thursday, 17th September, 2019 at 3.00pm, clearly marked “Tender No.PA/004/ HQ/2019-2020/CS/09 for Expression of Interest for Provision of Consultancy Services for Actuarial Valuation as of 30th June, 2019
Expressions of Interest will be opened immediately after the deadline for submission in public and in the presence of applicants’ representatives who choose to attend the opening ceremony at NSSF Conference Room, 16th Floor, Benjamin William Mkapa Pension Towers (Tower B), Azikiwe Street. Dar es Salaam.
Telegraphic, Telefax and Electronic applications will not be accepted. Applications not received and not opened in public at the bid opening ceremony shall not be accepted for evaluation irrespective of any circumstances.
Director General
National Social security fund
Benjamin William mkapa pension tower, Azikiwe street, p.o.box 1322, Dar es salaam Tanzania
Tel: +255 22 2163400-19, fax: +255 22 2400034, e-mail: [email protected]
Source; Mwananchi09/09/2019
