REQUEST FOR PROPOSAL (RFP)
Actuarial Valuation Services for Gratuity Fund and Leave Encashment (IAS 19)

Ref No: BD/RFP/2026/000156
Issue Date: June 07, 2026

1. Background
The International Maize and Wheat Improvement Centre (CIMMYT) Bangladesh invites proposals from qualified actuarial firms to provide actuarial valuation services for employee benefit obligations related to the Gratuity Fund and Leave Encashment in accordance with International Accounting Standard (IAS) 19 – Employee Benefits.

The valuation results will support CIMMYT Bangladesh’s statutory financial reporting, donor compliance requirements, external audit processes, and internal financial management.

2. Objective
The objective of this assignment is to engage a qualified actuarial firm to conduct annual actuarial valuations of employee benefit obligations and provide audit-ready reports, disclosures, and supporting documentation in compliance with IAS 19.

3. Scope of Work
The selected firm shall:

• Perform actuarial valuation of Gratuity Fund liabilities.
• Perform actuarial valuation of Leave Encashment liabilities.
• Apply the Projected Unit Credit Method (PUCM) as required under IAS 19.
• Determine Defined Benefit Obligations (DBO).
• Calculate current service cost, interest cost, actuarial gains and losses, and other relevant components.
• Prepare all required IAS 19 disclosures for financial statements.
• Provide assumptions and methodologies used in the valuation process.
• Support management and external auditors by addressing valuation-related queries.

TOR: CIMMYT Bangladesh_RFP_Actuarial_IAS19_2026 (Click to download)

Submission Deadline: June 30, 2026, by 5:00 PM (Bangladesh Standard Time)