Deviation Actuarial

The variation is required to expand the scope of the existing contract with Arch Actuarial Consulting (Pty) Ltd to include the actuarial valuation of Productivity SA's post-retirement medical aid benefits for the 2026 financial year. Although the original appointment was intended to cover the 2023, 2024 and 2025 financial years, the service provider only rendered the services for the 2023 financial year. As a result, a balance remains available under the original contract. The proposed variation will utilise the remaining contract value to undertake the 2026 actuarial valuation, without exceeding the original contract value or requiring additional funding.