Provision of Actuarial Services

The Territory, represented by the Chief Minister, Treasury and Economic Development Directorate (“CMTEDD”) is responsible for valuing, accounting and managing the Territory’s defined benefit employer superannuation liabilities for current and past ACT Government employees who are members of the Commonwealth Superannuation Scheme (“CSS”) and the Public Sector Superannuation Scheme (“PSS”), as well as for the Member of the Legislative Assembly (“MLA”) defined benefit superannuation scheme.

Given the value and complex nature of these liabilities the Territory is seeking to engage a specialist actuarial service provider (the “Consultant”) to undertake both the annual and triennial valuations, to calculate the amount of annual emerging cost benefit reimbursement payable to the Commonwealth Government, and to provide the required AASB 119 disclosures at financial year end.