Provision of actuarial services for the United Nations and other UN system organizations

In 2005, the United Nations System Chief Executive Board for Coordination recommended that all United Nations systems organizations adopt the International Public Sector Accounting Standards (IPSAS) and in 2006, the General Assembly approved the adoption of IPSAS for the United Nations. The standards were adopted across the UN system organizations in a staggered manner. The United Nations adopted IPSAS beginning July 2013 for its peacekeeping accounts and January 2014 for its regular budget and extrabudgetary accounts. This request is intended to result in the establishment of a multi-year contract for provision of actuarial services in accordance with IPSAS 39, as follows: Part A - Actuarial valuation of post-retirement health insurance benefits for active and retired staff members (“ASHI”) and end-of-service liabilities (accrued annual leave, repartiation grant) for active staff members for the UN and 18 to 20 organizations/entities in the UN system as of end of the calendar year. 5 to 6 UN system entities also require valuation of the death benefit liability. Part B - Actuarial valuation of post-retirement and end-of-service liabilities for the United Nations only, which includes peacekeeping missions and support account at the end of the year July to June; Part C – Annual actuarial valuation of the pension scheme of the judges for the International Court of Justice and the International Residual Mechanism for Criminal Tribunals; Part D - Actuarial valuation of liabilities for recurrent payments under the United Nations’ workers compensation scheme to staff members and/or their dependents in the event of death, injury or illness attributable to the performance of official duties on its behalf - for UN and 5 to 6 UN system organisations; Part E – Ad hoc on-demand actuarial studies/reports in response to requests from the General Assembly or other requirements of the UN or UN system organizations, for example: a) Funding report for the ASHI and end-of-service liabilities that may or may not use the data already used for the regular valuation described in Part A above; b) Asset allocation as well as reserves and solvency studies for specific insurance plans; c) Expert advice on changes in accounting policies that are being considered by Management that may impact the liabilities of employee benefits covered under this EOI; d) Medicare Part D actuarial equivalence attestation for the UN retiree prescription drug benefit plan. This list is not exhaustive and may include other studies/reports. The expected deliverables of services include but are not limited to: 1) Detailed annual reports providing the post-retirement and end-of-service liabilities for each participating entity and/or any identified sub-set within the entity, and the rationale for all the assumptions made. The report should enable the organizations to meet all presentation and disclosure requirements of IPSAS 39 and should be provided in English not later than 15 February following the end of the financial year or 15 August following the end of the year for the UN's peacekeeping accounts; 2) Oral and written responses to questions raised by external auditors or other stakeholders on the methodology and assumptions used in the valuations; 3) Annual reports on judges’ pension benefit liabilities as at 31 December of the valuation year plus a roll-forward to 31 December of the following year for identified sub-sets, prepared in accordance with IPSAS 39 not later than 15 February; 4) Detailed report providing the liabilities for the UN and organizations participating in its worker compensation scheme and the rationale for all assumptions made. The report should enable the UN and related organizations to meets its presentation and disclosure requirements under IPSAS 39 and should be provided in English not later than 15th February following the end of the financial year; 5) Reports for on demand ad hoc requests prepared within the agreed in advance timeline.