Current ATM View - PROC0013384
Provision of Financial Counselling for eligible recipients of the Youpla Support Program
Canberra, Sydney, Melbourne, Adelaide, Perth, Brisbane, Darwin, Hobart
The National Indigenous Australians Agency (the Agency) requires the provision of financial counselling for former policy holders of the Youpla Group as part of the Youpla Support Program (YSP).
The YSP will provide a resolution payment to persons 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 1 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. Resolution payments will continue until 1 December 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.
Eligible recipients 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. Eligible recipients will be offered free, voluntary financial counselling prior to making their decision to help inform their choice.
The successful Supplier 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 Supplier must be able to demonstrate the capacity to provide financial counselling in a culturally appropriate manner. Additionally, as a significant proportion of former policy holders are located in remote and regional areas, the successful Supplier is to establish and maintain reliable contact in these areas.
Eligible recipients who opt for the financial counselling will be referred to the successful Supplier via the secure online Government portal ‘Business Hub’.
The successful Supplier will be asked to deliver financial counselling to eligible recipients from the YSP commencement date of 1 July 2024.
Industry Briefing
The Agency will be conducting an industry briefing concerning the ATM. The briefing will be held virtually on Wednesday 1 May 2024 at 2:00pm (ACT local time).
Refer to section A.A.1 (Key Information and Dates) of the ATM for further details.
Deadline for submission of Tenderer Questions
Questions can be submitted up until 5:00pm Friday 10 May 2024 (ACT local time). Questions received after this time will not be responded to.
The Customer will exclude from participation any Potential Supplier that does not demonstrate compliance with the following requirements:
1. The Potential Supplier exists as a legal entity at the Closing Time.
2. The Potential Supplier:
(a) holds an Australian Financial Services Licence; or
complies with the relevant legal and regulatory requirements, including the licensing relief applying to financial counselling agencies exempting them from holding an Australian Financial Services Licence and an Australian Credit Licence.
1 July 2024 to 31 December 2026.