Trade Agreement: NONE
Tendering Procedures: All interested suppliers may submit a bid
Attachment: None
Competitive Procurement Strategy: Lowest/Lower Bid
Comprehensive Land Claim Agreement: No
Nature of Requirements:
TITLE
Actuarial Analysis and Consultation Services
OBJECTIVE
VAC requires the Contractor to provide recommendations on the
acquired actuarial costing models to be used to calculate an
actuarial valuations of benefits options afforded to Veterans
based on a reliable and objective financial comparison of
benefits received under the Pension Act prior to the
introduction of the New Veterans Charter on April 6, 2006 and
those received under the Charter after its introduction.
BACKGROUND
The introduction of the New Veterans Charter (NVC) in 2006
represented the most sweeping changes to Veterans' benefits and
services in the past 60 years.
This modernization moved Veterans Affairs Canada (VAC) Programs
from a model of delivery of benefits to aging Veterans to a
model of case management aimed at encouraging and supporting
younger clients as they re-establish themselves in civilian
life. NVC programs and services are intended to support
Veterans and clients at a point in time in which they are
needed. Other programs and services NVC offers include
rehabilitation, financial benefits, health benefits, and career
transition services.
The implementation of the NVC and the shift from monthly
disability pensions to lump sum disability awards has met with
both praise and criticism from individual Veterans, Veterans'
organizations, Departmental Advisory committees, and the
Veterans Ombudsman. For some clients, the NVC has been a
positive experience; on the other hand some stakeholders would
like to see VAC revert to either a monthly model or one that
offers clients a choice (among the single lump sum, an annuity,
or a monthly pension). In some circumstances over the course
of a lifetime, a disability pension and associated benefits
results in more benefits being paid to the client than is the
case with the disability award and other relevant NVC benefits.
Case scenarios were used in the original design of the NVC
programs and have been used periodically since its introduction
to examine the impact of Program changes on individual VAC
clients and groups of clients as the primary method of
comparative analysis to demonstrate the similarities and
differences in the two benefits at the client level, depending
on the type of client and the extent of disability. Each case
provides present value calculations to compare the lifetime
value of a monthly pension payment to a lump-sum payment and
other NVC benefits.
Which payment stream is most monetarily advantageous is
dependent on factors including marital and dependent status,
life expectancy, and severity of disability. The disability
award (DA) and disability pension (DP) are not easily compared
in all circumstances and because the tools used to do the
assessment of individual client circumstances were done over
time and for varying purposes. VAC is not always able to respond
to or react in a timely and consistent manner to analysis from
external veterans or organizations that suggests the NVC
benefits for an individual client or client group are more or
less than what would have been offered pre-NVC.
SCOPE OF WORK
The Department has acquired an Actuarial Valuation Model which
will permit to improve its capacity to complete actuarial
valuations of existing benefits and to conduct "what-if"
scenario planning for business and policy planning purposes. The
Model operates primarily in a MS Excel environment with links to
supporting data files. To ensure the accuracy and relevance of
cost information, VAC requires the professional services of an
actuary consultant with experience to provide the professional
knowledge and advice to assist the Chief Financial Officer in
establishing actuarial models and methodologies.
PERIOD OF THE CONTRACT
The period of the Contract is from date of Contract to September
30, 2013 inclusive.
MANDATORY TECHNICAL CRITERIA
MT1: The bidder must demonstrate that the proposed resource have
a minimum of 6 years of experience in providing actuarial
estimates and/or actuarial consulting services for health or
social programs.
Bidder must provide detailed information including project
description, start and end dates by month and client name and
telephone number.
MT2: The bidder must demonstrate that the proposed resource have
at least one of the following work experience:
- minimum of 6 years of experience at the executive level in
preparing or providing strategic, expert advice and
recommendations to senior management on client or human
resources and program expenditure forecasts and costing
estimates;
or
- minimum of 6 years of experience with statistical
methodologies and applications used to prepare forecast
frameworks or models for health or social programs.
Bidder must provide detailed information including project
description, start and end dates by month and client name and
telephone number.
MT3: The Bidder must demonstrate that the proposed resource have
at least one of the following:
- provide proof of membership as a Fellow in good standing of
the Canadian Institute of Actuaries or Society of Actuaries;
And/or
- proof of authorization to append their names with the initials
FCIA (Fellow, Canadian Institute of Actuaries)
http://www.cia-ica.ca/about-us/actuaries/careers/enro…
BASIS OF SELECTION
Lowest Evaluated Price
A bid must comply with the requirements of the bid solicitation
and meet all mandatory evaluation criteria to be declared
responsive.
The responsive bid with the lowest evaluated price will be
recommended for award of a contract.
CONTRACTING AUTHORITY
The Contracting Authority for the Contract is:
Jocelyne C Gagnon
Supply Specialist
Public Works and Government Services Canada
Acquisitions Branch
Professional Services and Procurement Directorate
11 Laurier Street, Phase III
Gatineau, Québec K1A 0S5
Telephone: 819-956-0575 / Facsimile: 819-956-2675
E-mail address: j••••••••@••••••••.••.ca
Delivery Date: Above-mentioned
The Crown retains the right to negotiate with suppliers on any
procurement.
Documents may be submitted in either official language of Canada.
