Call for External Collaborator – Support actuary for the actuarial modelling of the proposed NSSF, Social Protection Department, Technical support on actuarial for the comprehensive social security reform in South Africa., SOCPRO, ILO HQ.

Dear Bidder, The International Labour Office (ILO) is looking for an individual to undertake work as an External Collaborator. Below is a summary of the work to be performed: The purpose of this external collaborator contract is to support the Senior Actuary with data collection, analysis, and preparation for updating the actuarial and financial model for the proposed NSSF. The task to be performed are the followings: Data Collection and Updating of Key Inputs: • Data for the actuarial model developed in 2021 • Review the data collected for the 2021 actuarial model • Review the input data in the 2021 actuarial model • Learn the tools for converting raw data into actuarial model inputs. • Collect the most recent and relevant data from official sources, including: - Demographic data (e.g., population projections, life expectancy, fertility, and mortality rates). - Economic indicators (e.g., GDP growth, inflation, wage levels, interest rates). • Labor market trends (e.g., employment rates, informality, contribution base). • Individual data on potential contributors (information from Unemployment Insurance Fund and Government Employees Pension Fund) • Social security system parameters and benefit structures. • Incorporate recent macroeconomic scenarios and post-COVID-19 recovery trajectories. Revision of Assumptions and Model Parameters • Support the senior actuary to update actuarial assumptions such as: - Contribution rates. - Retirement age. - Longevity improvements. - Salary progression. • Support the senior actuary to adjust assumptions to reflect current policy intentions and economic forecasts. Documentation and Reporting • Support the senior actuary in drafting the data section of a guidance note to support future updates and capacity-building. • In the comprehensive actuarial report prepared by the senior actuary, draft the section(s) and Appendice(s) related to data collection and analysis.