Terms of reference

These are the terms of reference for the Government Actuary's Department.

Our mission

Our mission is to improve the stewardship of public sector finances by supporting effective decision-making and robust financial reporting through actuarial analysis, modelling and advice.

Our vision

Our vision of GAD for 2025 is that:

  • we make a difference: our work improves outcomes for the public and helps the government achieve its objectives
  • we partner effectively with our clients: we proactively help our clients where we can add value and deliver innovative, cost-effective solutions to a wide range of issues
  • we are seen as a great place to work: we provide fulfilling careers for all our people
  • our value is recognised: we are widely recognised and respected throughout the public sector as trusted experts in the fields of financial risk analysis and modelling

Our values

In addition to core values of the Civil Service (integrity, honesty, objectivity and impartiality), GAD’s values are the beliefs and behaviours which define us as an organisation:

  • expert – we provide high quality, professional advice
  • collaborative – we partner effectively with our clients to understand and address their business needs
  • inclusive – we value and develop all our people
  • innovative – we are forward looking, continually developing and improving to meet evolving client needs

The Actuaries’ Code

The Actuaries’ Code sets overriding principles for all members of the Institute and Faculty of Actuaries (IFoA). It’s the ethical Code of Conduct that all members of the IFoA must adhere to.

The Code has 6 principles:

  1. Integrity
  2. Competence and care
  3. Impartiality
  4. Compliance
  5. Speaking up
  6. Communication

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

GAD’s UK work is produced in accordance with the Financial Reporting Council’s (FRC) Technical Actuarial Standards. The generic TAS standard, TAS 100, applies to all work which meets the FRC’s definition of technical actuarial work. Additional TAS standards apply to specified areas of work, where the FRC has identified particular risks to the public interest.

At GAD, we seek to achieve a high standard in all our work. Even if not formally in scope, we work to the spirit of the TASs to help ensure the quality of our work.

The Civil Service code

The Civil Service code sets out the standards of behaviour expected of civil servants.

Conflicts of interest

We follow the requirements of the Institute and Faculty of Actuaries relating to conflicts of interest.

Other guidance

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. GAD also has internal guidance on specific areas which is available on request.

Previous standards

Details of the standards we have previously applied to our work are available on request.