Government Actuary's Department
|Non-ministerial government department overview|
|Headquarters||Finlaison House, 15-17 Furnival Street, London, EC4A 1AB|
|Annual budget||£0 (2017-2018) (taxpayer liability only) |
|Non-ministerial government department executive|
The Government Actuary’s Department (GAD) is a department of the Government of the United Kingdom responsible for providing actuarial advice to public sector clients. Its mission is to support effective decision-making and robust reporting within government as the first choice provider of actuarial and specialist analysis, advice and assurance.
The services GAD provides are:
- Actuarial valuations and advice for public sector pension schemes including the pensions aspects of staff transfers;
- Advice to the Government on occupational pension schemes, social security and on private pensions policy;
- Advice on insurance, contingent liabilities and on the pricing and management of risk;
- Other actuarial and modelling advice and assurance on areas including statistical analysis, healthcare financing and investment-related issues.
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. Two years later the Government Actuary’s Department was formed.
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.
Today, GAD has offices in London and Edinburgh and employs around 180 staff of whom over 140 are qualified actuaries, trainees or analysts.
The Government Actuary is the individual actuary that is responsible for the overall running and leadership of GAD. The holders of this role have been:
- May 1917 – May 1936: Sir Alfred Watson KCB
- May 1936 – Nov 1944: Sir George Epps KBE
- Dec 1944 – Aug 1946: Sir Percy Harvey KBE, CB
- Aug 1946 – Mar 1958: Sir George Maddex KBE
- Apr 1958 – Apr 1973: Sir Herbert Tetley KBE, CB
- May 1973 – Apr 1989: Sir Edward Johnston KBE, CB
- Apr 1989 – Oct 2007: Christopher Daykin CB
- May 2008 – Aug 2014: Trevor Llanwarne CB
- Aug 2014 – Present : Martin Clarke
- Government Actuary's Department Annual Report 2017-2018, Government Actuary's Department, June 2018, retrieved 14 August 2018
- Government Actuary Martin Clarke, Government Actuary's Department, retrieved 11 September 2017