GovWire

GAD's analysis of the Autumn Statement 2023

Government Actuarys Department

November 24
16:12 2023

The Government Actuarys Department (GAD) has analysed the announcements in the governments Autumn Statement, as they relate to areas in which we specialise.

The latest Technical Bulletin focuses on proposals for pension reforms and a selection of other measures most closely linked to GADs work. These areas include:

Pensions

We examine the Autumn Statements package of pension measures which represent the next steps of the Chancellors Mansion House reforms. This includes proposals relating to Local Government Pension Scheme (England and Wales) investments and options for defined benefit schemes.

National Insurance

The government also announced a reduction in National Insurance contributions (NICs) for employees and people who are self-employed. The Government Actuary reports to Parliament annually on the financial implications of changes to NICs and benefit rates. The next report, due in early 2024, will include the impact of the announcements in the Autumn Statement.

Credit: Shutterstock

Contingent liabilities

The Autumn Statement also announced that the government has published a report assessing the risks from existing contingent liabilities. The assessment has come from the Contingent Liability Central Capability (CLCC), the governments centre of excellence for the management of contingent liabilities. CLCC was established within UK Government Investments in partn

Related Articles

Comments

  1. We don't have any comments for this article yet. Why not join in and start a discussion.

Write a Comment

Your name:
Your email:
Comments:

Post my comment

Recent Comments

Follow Us on Twitter

Share This


Enjoyed this? Why not share it with others if you've found it useful by using one of the tools below: