Corporate report

GAD business critical models (HTML)

Updated 24 July 2023

GAD’s Business Critical Models

The Government Actuary’s Department uses the following business critical models:

Model name	Model description
Mantle	A pension valuation system used across GAD to calculate pension costs in respect of both past service and future accrual
Public service pension schemes: data tools	Tools to summarise, check and manipulate member data as required for the actuarial valuations of the public service pension schemes
Public service pension schemes: analysis of experience model	Tool to aid actuarial advisors in determining assumptions and communicating these to clients
Public service pension schemes: valuation calculations	Implementation of valuation calculations on a scheme by scheme basis, including calculations using pension valuation software
Public service pension schemes: valuation results and analysis of surplus calculations	Tool for calculating the Cost Cap and Employer Contribution Rate, as well as analysis of changes since prior valuation results
Annuity generator	Tool to calculate individual and bulk annuities on a variety of different assumptions
Accounts roll-forward tool	Tool to roll-forward liabilities for resource accounts disclosures
Actuarial factors tools	Tools to calculate and manipulate actuarial factors such as early retirement reductions, late retirement uplifts and cash equivalent transfer values
Principal Civil Service Pension Scheme cash-flows	Model to project cash-flows for the Principal Civil Service Pension Scheme (PCSPS)
DB Consolidation	Tool to simulate outcomes across potential authorisation regimes for the consolidation of Defined Benefit (DB) pension schemes
Firefighters’ Pension Scheme commutation factors	Model to generate factors for members of the Firefighters’ Pension Scheme who exchange pension for lump sum
Police Pension Scheme commutation factors	Model to generate factors for members of the Police Pension Scheme who exchange pension for lump sum
National Insurance Funds of Great Britain and Northern Ireland	Models used in relation to work for the National Insurance Funds of Great Britain and Northern Ireland, used to project contribution income and benefit expenditure and to apportion contributions between the Funds and the National Health Service
Service credit model	Model for the calculation of service credits under Fair Deal
Bulk transfer templates	Implementation of pension valuation software to provide calculation templates used to calculate bulk transfer values under Fair Deal for NHSPS & PCSPS (GB).
Pension Cost Model	Enabling DfT to model future pension costs in the Railways Pension Scheme
NHS Resolution’s IBNR provisions	Model to calculate NHS Resolution’s Incurred but not reported (IBNR) provisions for accounting purposes
Personal Injury Discount Rate modelling	Claimant outcome modelling to inform Ministry of Justice policy
TPR DB funding model	Asset liability modelling of Defined Benefit (DB) pension schemes to inform The Pensions Regulator (TPR)
Annual accounts production	Model to produce GAD’s annual resource accounts, as required by statute
State Pension age model	Model to determine the State Pension age changes required to meet defined criteria, such as the expected average period in retirement not exceeding a specified proportion of adult life
EU Exit: Financial Instruments Model	Model to forecast the UK’s liability under Article 143 and 144 of the Withdrawal Agreement
Judicial Pensions Scheme: O’Brien 2/Miller tool	Tool to enable scheme administrators to provide pension remedy calculations for members impacted by the O’Brien 2 and Miller judgements

Last reviewed: July 2023