Request for Tender for Validation of the Actuarial Valuation for the Australian Investment Approach to Welfare

⁠⁠⁠The Department of Social Services (the Department) is implementing an Investment Approach to Welfare (the Investment Approach). The Investment Approach uses actuarial valuations to estimate the total lifetime cost of Australia’s social security system.  

A Provider has been engaged to conduct these actuarial valuations. The Provider and the Department have designed an actuarial model, which has been used to develop an initial baseline valuation report. 

The Department is now seeking an actuarial service provider (the Successful Tenderer) to validate the actuarial model and analysis prepared by the existing Provider. This process will provide the Government and the public with certainty of the transparency and robustness of the actuarial valuations.