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This publication is available at https://www.gov.uk/government/publications/gad-services/government-actuarys-department-services
Actuaries provide analysis and commentary on complex financial problems involving risk and uncertainty. The Government Actuary’s Department (GAD) supports effective decision-making and robust reporting within government as the first choice provider of actuarial and specialist analysis, advice and assurance in:
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Insurance and Investment
GAD provides actuarial advice to government departments, public bodies and local authorities on life, general and health insurance related matters.
Insurance and risk transfer
Our analysis and advice also applies to a wide range of challenges ranging from the impact of climate change to social care funding. We value contingent liabilities (working out what organisations could be financially liable for in the future) and we offer advice on financing solutions for high impact, low probability events (like natural disasters). More information is available at this link.
Investment and risk
We provide advice on investment aspects of pensions and insurance and undertake specialist projects on the management of risk within UK government departments and financial institutions. We help organisations understand the investment risks that they are exposed to and how best to invest to meet their objectives.
Modelling and Quality Assurance
We provide advice on financial and demographic modelling as well as other bespoke modelling services. We help with full model specification and interpreting and communicating results. Further details are available at this link.
Pensions and Social Security
GAD carries out actuarial analysis for government departments and public bodies to provide input into policy development, working with colleagues in other government departments.
Public service pension schemes
We provide actuarial advice on all the main UK public service pension schemes - this impacts on around 13 million people in total. Further details and an overview of our services are available online.
Funded pension schemes
GAD advises funded occupational pension schemes (those which with assets backing the liabilities) in the wider public sector. We offer consultancy services for trustees of schemes, advice to sponsors and strategic benefit and investment reviews. For more information follow this link.
Pensions policy, regulation and supervision
Drawing on our actuarial knowledge, wide-ranging experience, and our understanding of pensions issues, we offer technical and analytical advice on pensions issues which recognises the broader policy context. Further details and an overview of our services are available online.
We advise public sector bodies where staff are set to have their pensions arrangements of staff changed. Our key services include broad comparability assessments and advice on potential bulk transfer shortfall costs. We help with communications with staff and liaising with pensions administrators and lawyers. Please see our staff transfers webpage for guidance and for further information follow this link to see more of what we offer.
GAD provides reports to Parliament on the financial position of the National Insurance Fund. Each year we produce a report summarising the impact on the Fund of the proposed uprating of benefits and re-rating of contribution limits. Every 5 years a more comprehensive report is prepared to consider the estimated financial position of the Fund over the longer term. Furthermore, we provide advice to social security organisations in other countries. More details are available at this link.