Australian Government Actuarial Services Panel
The Department of Finance (Finance) has established an Actuarial Services Panel (the Panel) for use by Australian Government entities that require actuarial advice. The provision of this arrangement is for the period from 1 January 2016 to 31 December 2019.
The Panel comprises:
- Mercer Consulting (Australia);
- Australian Government Actuary (AGA);
- PricewaterhouseCoopers Actuarial;
- Ernst & Young;
- Russell Employee Benefits;
- Finity Consulting Pty Ltd; and
- Cumpston Sarjeant.
General Scope of Services
All Australian Government entities can use the Panel for any actuarial service* requirements.
*The Australian Institute of Actuaries define actuarial services as the application of mathematical, statistical, economic and financial analyses, which involves adding risk assessment to longer term financial contracts, in a wide range of practical business problems.
Panel Terms and Conditions
Finance has signed an agreement (Deed of Standing Offer or Memorandum of Understanding) with each Panel member. These agreements contain the general terms and conditions under which each Panel member will provide services to Australian Government entities. Any use of the Panel is bound by these broad terms and conditions.
Copies of the individual agreements with the Panel members can be obtained from the Superannuation and Funds Financial Team (SuperBranch@finance.gov.au) within Finance. These agreements contain the relevant hourly/daily rates that Panel members are to use when preparing quotes, as well as the names and details of the appropriate Client Relationship Managers for each Panel member.
Process for Engaging an Actuarial Services Panel Member
The agreements with Panel members outline the necessary steps for engaging a Service Provider, including the provision of quotes etc. A summary has been included below:
The requesting entity needs to issue a Request for Quotation (RFQ) to the relevant Client Relationship Manager.
Note that entities are free to seek quotes from one or more Panel members.
|2.||On selection of your Panel member, an order for services needs to be completed.||
|3.||Invoices are to be paid by the requesting entity, directly to the Panel member, within 30 days of receipt, unless otherwise specified in the order.||
|4.||The Standing Offer Notice ID for the Panel is SON 3333134.||
For further information on the panel please contact the Department of Finance at email@example.com.
Last updated: 14 April 2016