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NATIONAL INDIGENOUS AUSTRALIANS AGENCY has floated a tender for Financial Counselling Provision for the Youpla Support Program. The project location is Australia and the tender is closing on 12 Apr 2024. The tender notice number is PROC0013384 - Notice, while the TOT Ref Number is 98578625. Bidders can have further information about the Tender and can request the complete Tender document by Registering on the site.
Procurement Summary
Country : Australia
Summary : Financial Counselling Provision for the Youpla Support Program
Deadline : 12 Apr 2024
Other Information
Notice Type : Tender
TOT Ref.No.: 98578625
Document Ref. No. : PROC0013384 - Notice
Competition : ICB
Financier : Self Financed
Purchaser Ownership : Public
Tender Value : Refer Document
Purchaser's Detail
Purchaser : NATIONAL INDIGENOUS AUSTRALIANS AGENCY
Contact Officer
Email Address : YouplaTenders@niaa.gov.au
Australia
Email :YouplaTenders@niaa.gov.au
Tender Details
The National Indigenous Australians Agency (the Agency) is preparing an open tender for the provision of financial advice for former policy holders of the Youpla Group as part of the Youpla Support Program (YSP). A tender will be released within the next 6 weeks. This is a notice to inform tenderers of the likely requirements. The YSP will provide a resolution payment to people who held a funeral insurance policy with the Youpla Group (also known as the Aboriginal Community Benefit Fund) that was active anytime on or after 01 August 2015. Estimates based on available data indicate that approximately 13, 700 persons held policies during this period. The program commences on 1 July 2024. Applications close on 30 June 2026. The value of the resolution payment will be determined by NIAA, assessed at 60% of the total premiums paid up to their policy limit. People eligible under the YSP will be able to reinvest their resolution payment into a funeral bond, or they can opt to receive it as a cash payment. People eligible will be offered free, voluntary financial counselling prior to making their decision. The successful tenderer will need to provide financial counselling to former policy holders to support their understanding of the program, the options available to them and the effects those options may have on their finances. Due to the high proportion of First Nations persons among former policy holders, the successful tenderer must be able to demonstrate the capacity to provide...
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