GOVERNMENT ACTUARYS DEPARTMENT- EDINBURGH
- ABBEY BUSINESS CENTRE, 83 PRINCES STREET
EH2 2ER EDINBURGH, MIDLOTHIAN
Phone: +44 (0)131 247 7510
E-mail: Send messagewww.gad.gov.uk
Short profile:
We provide actuarial services to many of the UK public service pension schemes and to a number of funded pension schemes. Additionally, we advise the UK Department of Communities and Local Government on the Local Government Pension Scheme. GAD provides actuarial advice to the UK Department for Work and Pensions (DWP) on government policy affecting occupational pension schemes. We also advise on the regulation of pension schemes, and we report on the terms for contracting out of the state second pension and produce for HM Revenue & Customs tables for calculating the maximum income for income drawdown arrangements in relation to unsecured pension funds and alternatively secured pension funds.
Detailed description:
GAD advises HM Treasury on a range of policy issues relating to the unfunded pensions schemes for public sector employees. These have included the costs of the schemes and also issues relating to re-organisation of staff. Government policy is to provide some protection for public sector employees’ pension arrangements on a compulsory transfer of employment. We advise public sector organisations on such transfers of employment, and provide the certification of private sector organisations’ pension arrangements needed for public contracts. GAD advises the UK Government on the nation’s social security arrangements.
We provide a comprehensive analysis of the long-term financial position and its likely future development. GAD’s insurance team specialises in providing advice to insurance supervisors throughout the world. Our advice includes the analysis of, and commentary on, aspects of the work of the actuary in an insurance company. Advice is also given by this team to many UK Government Departments on insurance and self-insurance.
Early in 2009, GAD established a specialist Investment & Risk team. The team’s work includes advice on investment aspects of pensions and insurance as well as specialist projects on the management of risk within UK Government Departments and financial institutions. GAD provides actuarial analysis to a number of overseas Governments in relation to their national social security programmes and their local pension schemes for public sector employees.
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