RFT for the provision of an Actuarial Review of the Social Insurance Fund as at 31 December 2020

Description

The successful Tenderer will carry out an Actuarial Review of the financial condition of the Social Insurance Fund (SIF) as at 31 December 2020. This Review will provide an actuarially-based assessment of the future "health" and sustainability of the SIF. In particular, it will examine the impacts of the various potential changes to pension payment rates based on contribution averages, limitation of benefit duration etc. in order to better inform future expenditure. In addition, the Tenderer will be required to model options and recommendations from the report from the Commission on Pensions. Further actuarial resources will be required at a later date with the Contracting Authority to deal with the analysis of other policy requirements as they arise.