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Actuarial Service for Non-governmental Organisations |
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Background |
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The Lump Sum Grant Independent Review Committee in its Review Report on the Lump Sum Grant Subvention System published in December 2008 recommended, inter alia, that the Government should make available an actuarial service for non-governmental organisations (NGOs) to assess their ability to meet snapshot staff commitments, and NGOs' application for this service should be on a voluntary basis. |
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The first and second rounds of the pilot actuarial studies on two NGOs, namely Chung Shak Hei (Cheung Chau) Home for the Aged Limited and Yan Oi Tong, commissioned by the Social Welfare Department (SWD) to Deloitte Consulting (Hong Kong) Limited, were completed. While in each round of the studies an NGO Report was produced to include details on the organisation-specific findings and recommendations for the participating organisation's reference, an Overall Report was also published providing the sector with an overview of that round of study, the methodology and recommendations, as well as the key lessons learnt for the sector's reference. |
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First round: Chung Shak Hei (Cheung Chau) Home for the Aged Limited- |
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The Overall Report on Actuarial Study Commissioned by the Social Welfare Department on Financial Condition of a Non-governmental Organisation (PDF) |
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PowerPoint presentations at the Sharing Session on the Pilot Actuarial Study of the Financial Condition of a Non-governmental Organisation held on 1 September 2011 |
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PowerPoint presentation of the participating NGO (Chinese Version Only) |
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PowerPoint presentation of the consultancy (Chinese Version Only) |
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Second round: Yan Oi Tong |
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The Overall Report of Second Pilot Actuarial Study on Financial Condition of a Non-Governmental Organisation (PDF) |
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Way Forward |
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The Lump Sum Grant Steering Committee at its meeting held on 6 November 2014 supported that NGOs might make use of the Social Welfare Development Fund (SWDF) to commission actuarial studies or related studies on their own to provide insights into planning the use of their Lump Sum Grant and Provident Fund Reserves. On this, SWD invited NGOs to apply for funds for carrying out the studies in the final round application of SWDF Phase 2 in February 2015 and later SWDF Phase 3 from 2016-17. |
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