Government Actuary's Department

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Government Actuary's Department
Welsh: Adran Actiwari'r Llywodraeth
Actuary.svg
Non-ministerial government department overview
Formed1919 (1919)
Jurisdiction United Kingdom
HeadquartersFinlaison House, 15-17 Furnival Street, London, EC4A 1AB
Employees194
Annual budget£0 (2019-2020) (taxpayer liability only) [1]
Non-ministerial government department executive
  • Martin Clarke, Government Actuary
Website www.gov.uk/gad


The Government Actuary’s Department (GAD) provides actuarial solutions including risk analysis, modelling and advice to support the UK public sector. It is a department of the Government of the United Kingdom.

Contents

GAD applies the actuarial profession's technical skills, consultancy discipline, high standards of professionalism and industry sector knowledge to solve financial challenges faced by the UK public sector.

The department is part of the analysis function in government responsible for providing actuarial advice to public sector clients. Its mission is to improve the stewardship of the public sector finances by supporting effective decision-making and robust financial reporting through actuarial analysis, modelling and advice.

Five-year strategy

The GAD 2025 Strategy [2] focuses on 4 main areas; clients, people, inclusion and processes, setting out aims and priorities in each section.

GAD provides actuarial and specialist analysis, advice and assurance in:

History

In 1912 the Government appointed a chief actuary to the National Health Insurance Joint Committee, following the Old Age Pensions Act 1908 and the National Insurance Act 1911. As the role of the Chief Actuary expanded, the post of Government Actuary was created in 1917. The Government Actuary's Department was formed 2 years later.

The role of GAD within government expanded significantly in the 1940s and 1950s, coinciding with an expansion of the state’s role in pensions, social security and health care.

By the 1980s GAD had grown into a significant actuarial consultancy within government and in 1989 the financing of GAD through an annual Parliamentary vote of funds was replaced by a system of directly charging users of GAD’s services. The calculation of GAD's fees is based solely on the recovery of its costs.

GAD has about 200 people across 2 offices (London and Edinburgh), of whom around 165 are actuaries and analysts.

List of government actuaries

The government actuary is the individual actuary that is responsible for the overall running and leadership of GAD. [3] The holders of this role have been: [4]

Timeline of government actuaries

Christopher DaykinGeorge Epps (actuary)Alfred Watson (actuary)Government Actuary's Department

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References

  1. Government Actuary's Department Annual Report 2019-2020 (PDF), Government Actuary's Department, retrieved 29 July 2020
  2. "Government Actuary's Department 2025 Strategy" (PDF).
  3. Government Actuary Martin Clarke, Government Actuary's Department, retrieved 11 September 2017
  4. "The role of the Government Actuary in social security in the UK" (PDF).