Corporate report

GAD business critical models (HTML)

Updated 18 July 2024

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GAD바카라 사이트™s Business Critical Models

The 바카라 사이트 Actuary바카라 사이트™s Department uses the following business critical models:

Model name Model description
Mantle A pension valuation system used across GAD to calculate pension costs in respect of both past service and future accrual  
Public service pension schemes: data tools Tools to summarise, check and manipulate member data as required for the actuarial valuations of the public service pension schemes  
Public service pension schemes: analysis of experience model Tool to aid actuarial advisors in determining assumptions and communicating these to clients  
Public service pension schemes: valuation results and analysis of surplus calculations Tool for calculating the Cost Cap and Employer Contribution Rate, as well as analysis of changes since prior valuation results  
Annuity generator Tool to calculate individual and bulk annuities on a variety of different assumptions  
Accounts roll-forward tool Tool to roll-forward liabilities for resource accounts disclosures  
Actuarial factors tools Tools to calculate and manipulate actuarial factors such as early retirement reductions, late retirement uplifts and cash equivalent transfer values  
DB Consolidation Tool to simulate outcomes across potential authorisation regimes for the consolidation of Defined Benefit (DB) pension schemes  
Firefighters바카라 사이트™ Pension Scheme commutation factors Model to generate factors for members of the Firefighters바카라 사이트™ Pension Scheme who exchange pension for lump sum  
Police Pension Scheme commutation factors Model to generate factors for members of the Police Pension Scheme who exchange pension for lump sum  
National Insurance Funds of Great Britain and Northern Ireland Models used in relation to work for the National Insurance Funds of Great Britain and Northern Ireland, used to project contribution income and benefit expenditure and to apportion contributions between the Funds and the National Health Service  
Service credit model Model for the calculation of service credits under Fair Deal  
Bulk transfer templates Implementation of pension valuation software to provide calculation templates used to calculate bulk transfer values under Fair Deal for NHSPS & PCSPS (GB).  
Pension Cost Model Enabling DfT to model future pension costs in the Railways Pension Scheme  
NHS Resolution바카라 사이트™s IBNR provisions Model to calculate NHS Resolution바카라 사이트™s Incurred but not reported (IBNR) provisions for accounting purposes  
Personal Injury Discount Rate modelling Claimant outcome modelling to inform Ministry of Justice policy  
Annual accounts production Model to produce GAD바카라 사이트™s annual resource accounts, as required by statute  
State Pension age model Model to determine the State Pension age changes required to meet defined criteria, such as the expected average period in retirement not exceeding a specified proportion of adult life  
EU Exit: Financial Instruments Model Model to forecast the UK바카라 사이트™s liability under Article 143 and 144 of the Withdrawal Agreement  
Judicial Pensions Scheme: O바카라 사이트™Brien 2/Miller tool Tool to enable scheme administrators to provide pension remedy calculations for members impacted by the O바카라 사이트™Brien 2 and Miller judgements  

Last reviewed: July 2024

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