EUROPE - The European Court of Auditors is looking for an actuary for the annual calculation of liabilities of the unfunded scheme for EU civil servants (PSEO).

The last evaluation at the end of 2005 revealed that liabilities were up to €32.92bn from €26bn in 2004.

According to the tender documentation the new actuary's responsibilities will include "testing (and possible revision) of methodological approach using data from 2005, resulting in the calculation of the actuarial liability of the PSEO for 2005, including an explanation of any significant (over 10%) differences between the calculated actuarial liability for 2005, and the liability calculated by Eurostat's expert".

Furthermore, the actuary will have to calculate the scheme's liabilities for 2006. The actuary will have six months to complete the task.

The last evaluation for the scheme which covers nearly 55,000 members (an increase of over 7,000 compared to 2004) used a discount rate of 1.5% (down from 1.7% in 2004) and revealed an actuarial loss for the year 2005 of 5.5bn.

Contracts will not be awarded to "any tenderer who has been engaged by Eurostat to perform similar work" because of possible conflict of interest.

The tender can be drafted in any of the official languages of the European Union but prices must be stated in Euros. Deadline for participation is 30 January 2007.

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