Engagement of Actuarial/Consulting Firm for Actuarial Study and Pension Product Design for University of Balochistan Employees

The University of Balochistan, Quetta invites reputed and experienced actuarial and consulting firms to submit technical and financial proposals for conducting a comprehensive actuarial study and designing a sustainable pension product for its regular employees. This assignment includes assessment of existing and projected pension liabilities, actuarial valuation, financial sustainability analysis, and development of pension product models including defined benefit, defined contribution, hybrid, and other viable structures. The scope covers review of existing pension arrangements, data collection and analysis of employee demographics and pension data, actuarial valuation with detailed assumptions, contribution structure recommendations, financial projections for long-term sustainability, scenario and sensitivity analyses, investment and governance framework design, legal and regulatory compliance review, and preparation of draft pension rules and implementation roadmap. Items being procured: - Actuarial valuation report - Pension liability assessment - Alternative pension models/options paper - Recommended pension product/scheme - Contribution and funding structure - Long-term financial projections - Investment and risk management framework - Governance and administrative framework - Draft pension rules/regulations/SOPs - Risk and sensitivity analysis - Implementation roadmap - Final comprehensive report with editable electronic files The consultancy requires firms with relevant actuarial and financial expertise, experience with public sector or university pension schemes, and qualified professionals. Bidders must be legally registered, compliant with tax and regulatory requirements, and not blacklisted. The procurement will follow the Single Stage Two Envelope procedure with separate technical and financial proposals. The assignment is expected to be completed within 90 to 120 days from contract signing. Payment will be linked to deliverables acceptance. Proposals must be submitted by the specified closing date to the Treasurer, University of Balochistan, Quetta. Bidders are advised to carefully review the detailed terms of reference and eligibility criteria. A practical tip for bidders is to ensure thorough documentation of actuarial assumptions and methodology in the technical proposal to meet evaluation criteria and facilitate transparent assessment.