The Australian Air Pilots Mutual Benefit Fund (MBF) is run by members, solely for the benefit of members. We provide peace of mind that our pilots will be financially supported in the event their Australian Class 1 Medical Certificate is suspended or cancelled.

This RFP is for provision of independent Actuarial Services of Austair and the MBF. The successful independent actuary will be required to undertake work over a series of stages, which, in consultation with the Board, will be set as projects to be performed in selected timeframes, covering the following:

1. Calculate the future liability provisions necessary for each of the types of claims and assess the fund capacity through existing capital and income to meet these claims, with or without future contribution increases.

2. Calculate the future liability provisions necessary for the (discretionary) Refund of Contributions and assess the Fund’s financial capacity to meet these refunds, with or without future contribution increases.

3. Calculate the proportion of the annual contributions revenue that is required to meet the Temporary Disability Benefits as compared to the proportion that is required to meet the Permanent Disability (Capital) benefit, as per the ATO requirements. This has been requested by Employer groups who make the contributions on behalf of employees under Enterprise Agreements and who need the split between the benefits for FBT calculation purposes.

The response to this RFP should identify the experience and credentials of the actuarial team, and the primary contact’s information. Please provide references and details of other relevant clients. The preferred actuarial experience will be expected to include life assurance and mutual benefit structure experience.

For further details and for the RFP document please contact Michelle Vong on admin@aapmbf.com.au or call 03 9928 4500 (press Option 3).