Government Actuarys Department
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The Government Actuarys Department (GAD) has produced a summary of various aspects of the Autumn Budget 2024. It focuses on a selection of the Budget measures most closely linked to GADs work.
Budget relevance to GAD
As a department which advises on financial risk, the implications of a new budget are important for GADs work and the clients we support. GAD provides actuarial solutions on a non-profit basis for the government and wider public sector using:
- risk analysis
- modelling
- quality assurance and advice
- data insights to identify trends and share insights
A significant proportion of our work is on aspects of public service pension schemes. These affect 15 million working and retired people including police, firefighters, teachers, civil servants, doctors and nurses.
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Our skills further support government departments and stakeholder initiatives. Examples of these include reports on Great Britains National Insurance fund and on the State Pension age.
Topics covered
The Autumn Budget 2024 covered a number of topics relevant for GAD, ranging from National Insurance to pensions, and from fiscal forecasts to investment in public services. Further details can be found in the G