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Central Risk-free Discount Rates and CPI assumptions
Details
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Tender Closed
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| RFx ID : | 25389849 |
| Tender Name : | Central Risk-free Discount Rates and CPI assumptions |
| Reference # : |
FR003
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| Open Date : | Wednesday, 9 February 2022 9:00 AM (Pacific/Auckland UTC+13:00) |
| Close Date : | Friday, 11 March 2022 5:00 PM (Pacific/Auckland UTC+13:00) |
| Department/Business Unit : | The Treasury |
| Tender Type : | Request for Quotations (RFQ) |
| Tender Coverage : | Sole Agency [?] |
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| Exemption Reason : | None |
| Required Pre-qualifications : | None |
| Contact : |
Angela Ryan procurement@treasury.govt.nz |
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This procurement is a Request for Quotations, from which a 5 year contract will be awarded to the respondent whose response best matches the requirements of the CSO.
Since 2011 the Treasury has procured external actuarial services in order to publish a table of risk-free discount rates and consumer price index (CPI) assumptions five times a year to be used in certain accounting valuations for the purpose of preparing the Financial Statements of the Government of New Zealand (FSG) and forecast financial statements. The rates and CPI assumptions are determined in accordance with the Treasury’s central methodology. As part of the procurement of actuarial services, the methodology is reviewed every three years, unless there is a major event impacting the economy or markets which means more regular actuarial reviews of the methodology are necessary.
Many entities within the Government reporting entity use discounted cash flow models to value various assets and liabilities to be reported in general purpose financial statements. To ensure consistency and efficiency across accounting valuations reported in the FSG, the Treasury produces a central table of risk-free discount rates and CPI inflation assumptions that must be used for reporting to the Crown for consolidation purposes.
The Treasury seeks a five-year contract where the provider delivers relevant tables and reports regularly and at pre-determined times throughout the fiscal year. We also seek a collaborative relationship with the provider to provide advice or additional reviews as we may need to respond to new or unexpected events impacting the economy and markets (e.g. when we undertook two limited scope reviews due to the impact of COVID-19 pandemic on the economy).
This tender has been awarded.
- PriceWaterhouseCoopers - 15, Customs Street West, Auckland, 1142, NEW ZEALAND
Further Award Information:
Due to the sensitivity of the procurement, commercial details will not be made available
Award Date: Friday, 8 April 2022 (Pacific/Auckland UTC+12:00)
Date RFx was completed/updated: Tuesday, 31 May 2022 8:59 AM (Pacific/Auckland UTC+12:00)
