Actuarial & Information Services for NSWSIC - 0801675

SICorp is the Principal to the Agreement and is a statutory body which has the following functions with respect to Government managed fund schemes:

(a)       to operate one or more Government managed fund schemes (including the function of establishing, reorganising, amalgamating, dividing or winding up such schemes),

(b)       to enter into agreements or arrangements with other persons to provide services (as agents or otherwise) in relation to the operation of any Government managed fund scheme,

(c)       to enter into insurance or other agreements or arrangements to cover the liabilities to which a Government managed fund scheme applies,

(d)       to act for the State or an authority of the State in dealing with claims under a Government managed fund scheme (including the recovery of amounts payable to the State or an authority of the State in connection with such claims).

 The Treasury Managed Fund (“TMF”) is a NSW Government managed fund scheme.  The scheme covers the assets and liability risk of participating Government agencies. The Rail Scheme, Governmental Workers Compensation Account (Workers Fund) and Transport Accident Compensation Fund are also schemes administered by SICorp.

 There are two roles covered by the RFT

• The Actuarial and Services Provider; and

• The Actuarial Benchmark and Services Provider.

The Actuarial and Services Provider is primarily responsible for delivering

• TMF scheme valuations

• premium functions

• fee calculation functions

• budget projections

• reinsurance information and advice

• peer reviews of major work undertaken by the Actuarial Benchmark and Services Provider as detailed in Part D

The Actuarial Benchmark and Services Provider is primarily responsible for delivering

• a peer review of TMF scheme valuations

• valuations for the State Rail Authority and the Rail infrastructure Corporation.

• annual benchmark premium calculations

• fee dispute determination 

Additionally both roles may be required to provide actuarial consultancy services, general insurance consultancy services and assistance with the ongoing development of the SICorp Data Warehouse.  These functions will be the subject of quotation and acceptance based on the contracted hourly rates.  There is an expectation by SICorp that contract rates for general insurance consultancy services will be lower than for actuarial consultancy services.

NSW Regions: Central West, Far West, Hunter, Illawarra, Mid North Coast, Murray, Murrumbidgee, Northern, North Western, Richmond Tweed, South Eastern, Sydney

Open Tenders - An invitation to tender by public advertisement with no restriction placed on who may tender. Tenderers will normally be required to demonstrate in their tender that they have the necessary skills, resources, experience, financial capacity, and in some cases licences, accreditations, etc., to fulfil the tender requirements.

0801675_SummaryFile.pdf ( 1.87 MB)

A Pre-Tender Briefing will be held commencing at 10.00am, on

Monday 2 February 2009 at the address nominated below.

              This briefing will discuss all aspects of this tender.  It is highly desirable that all prospective tenderers attend a briefing in order that they fully acquaint themselves with the tender requirements.  It is also expected that all tenderers will have thoroughly read this document prior to the briefing.

 Conference Room

Level 4, McKell Building

2 – 24 Rawson Place

SYDNEY  NSW

 Tenderers should notify by Email to matthew.chalder@commerce.nsw.gov.au  by no later than 29 January 2009 of their intention to attend the briefing. 

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