Terms of reference
These are the terms of reference for the Government Actuary's Department.
We aim to ensure that GAD becomes a single, high-performing team that:
- is recognised throughout government as a high quality source of innovative thinking and specialist advice across many sectors
- has substantially enhanced its reputation for efficiency and value for money
- achieves high levels of consistency and standardisation in its operations and business processes
- is widely recognised for its development of analytical, actuarial and business skills in its people
To support effective decision-making and robust reporting within government as the first choice provider of actuarial and specialist analysis, advice and assurance.
In addition to core values of the civil service (integrity, honesty, objectivity and impartiality), GAD has values of:
- Agile through technical innovation and flexible working to meet evolving client needs
- Dedicated to delivering timely advice and first class and cost-effective customer service
- Expert and focused on quality of analysis to provide robust assurance on decision making
- Partnering with our clients to understand their business needs and develop solutions that add value for them
- Trusted to deliver a professional service with integrity
The actuaries’ code
The actuaries’ code sets overriding principles for all members of the Institute and Faculty of Actuaries.
Quality Assurance Scheme
GAD is proud to be accredited under the Institute and Faculty of Actuaries’ Quality Assurance Scheme. QAS is a voluntary accreditation scheme which recognises organisations’ commitments to quality actuarial work. The accreditation process included an independent assessment visit looking at GAD’s approach to quality assurance, conflicts of interest, training and development, speaking up and our relationship with the users of actuarial information.
Technical Actuarial Standards 2017
The Financial Reporting Council (FRC) has issued revised Technical Actuarial Standards (TASs) which come into force later this year. A generic standard, TAS 100, will apply to all work which meets the FRC’s definition of technical actuarial work. Additional standards apply to specified areas of work, where the FRC has identified particular risks to the public interest. Early adoption of the standards is permitted. GAD will be starting to early-adopt the revised TAS standards over the next few months.
GAD principles for actuarial quality
The GAD principles for actuarial quality are a set of overarching principles that are applied to all work carried out by actuarial staff in a professional capacity within GAD. This document will be withdrawn once revised TASs come into force later this year.
The civil service code
The civil service code sets out the standards of behaviour expected of civil servants.
Conflicts of interest
The GAD statement of understanding for GAD work concerning pension schemes includes material designed to ensure that the applicable provisions of the original TASs (the generic TASs, the Pensions TAS and the Transformations TAS) produced by the FRC will be met in relation to all pensions work within GAD. This document will be withdrawn once revised TASs come into force later this year.
Previous versions of this document are available from GAD on request.
In addition all work will comply with any other relevant standards including those issued by the Institute and Faculty of Actuaries. Where we provide actuarial advice to clients based outside of the UK this will include complying with the requirements of any relevant local actuarial standards and guidance.
There is also GAD internal guidance on specific areas which is available on request.
In any work where we have departed from this approach we will advise specifically the extent and nature of such departures within the relevant documents.