GAD Annual Report and Accounts for 2023 to 2024
We have published our Annual Report and Accounts which sum up the work of the 바카라 사이트 Actuary바카라 사이트檚 Department in the 2023 to 2024 financial year.
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The 바카라 사이트 Actuary바카라 사이트檚 Department (GAD) has published its Annual Report and Accounts (ARA) for 2023 to 2024, which have been laid before Parliament. The ARA sets out how GAD has supported the government across a wide range of policy areas including:
- climate change and disaster risk finance
- credit risk
- data science
- insurance and contingent liabilities
- investment and financial modelling, and QA
- pensions
- social security
Commenting on the work of the department, the 바카라 사이트 Actuary Fiona Dunsire, said: 바카라 사이트淕AD has provided valuable analysis and insight into pressing, complex challenges in the public sector.
바카라 사이트淚 am impressed by the creativity and innovation in our delivery to clients and the appetite to continue to adopt new approaches and tools.바카라 사이트�
Headline results
The ARA sets out GAD바카라 사이트檚 achievements over the financial year. The highlights include:
- 拢26.6 million - fee income for 2023 to 2024, a 拢1.8 million growth on the previous year
- 500,000 바카라 사이트� number of reviewed and updated actuarial factors across 26 public service pension schemes
- 4.7 out of 5-star rating - awarded by clients in our annual client survey
- 70% - GAD employee engagement in the Civil Service People Survey
- 18 out of 24 바카라 사이트� number of ministerial government departments GAD supported
- 1 in 6 바카라 사이트� ratio of staff who have worked on new areas such as climate, data analytics and pensions administration
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Achievements
GAD continues to build on its skills around climate, data analytics and pensions administration. This will continue to strengthen over the coming year, with continued focus on nurturing talent and developing new skills.
Our pensions experts completed the actuarial valuations of the Public Sector Pension Schemes, GAD바카라 사이트檚 single largest project. The valuations influence around 拢40 billion of public spending each year. The completion of the valuations every 4 years marks a key milestone for the department.
We supported the Contingent Liabilities Central Capability to produce the first complete view of the UK government바카라 사이트檚 exposure to financial guarantees, indemnities, contingent liabilities, and provisions 바카라 사이트� in excess of 拢500 billion - and seen as a model internationally.
2024 also marked a decade of support to the Department for Education in respect of the Risk Protection Arrangement, developing a system which now provides risk cover for more than 10,000 schools at a fixed per pupil cost.
Fiona Dunsire concluded: 바카라 사이트淚 look forward to leading the department through the coming years, with continued focus on innovation, forging meaningful partnerships and reaching even further across the public sector.바카라 사이트�