GAD's analysis of the Autumn Statement 2023
GAD analyses announcements in the Autumn Statement, as they relate to areas where we specialise. We look at pension reform proposals, and other measures.
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The 바카라 사이트 Actuary바카라 사이트™s Department (GAD) has analysed the announcements in the government바카라 사이트™s Autumn Statement, as they relate to areas in which we specialise.
The latest Technical Bulletin focuses on proposals for pension reforms and a selection of other measures most closely linked to GAD바카라 사이트™s work. These areas include:
Pensions
We examine the Autumn Statement바카라 사이트™s package of pension measures which represent the next steps of the Chancellor바카라 사이트™s Mansion House reforms. This includes proposals relating to Local 바카라 사이트 Pension Scheme (England and Wales) investments and options for defined benefit schemes.
National Insurance
The government also announced a reduction in National Insurance contributions (NICs) for employees and people who are self-employed. The 바카라 사이트 Actuary reports to Parliament annually on the financial implications of changes to NICs and benefit rates. The next report, due in early 2024, will include the impact of the announcements in the Autumn Statement.
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Contingent liabilities
The Autumn Statement also announced that the government has published a report assessing the risks from existing contingent liabilities. The assessment has come from the Contingent Liability Central Capability (CLCC), the government바카라 사이트™s centre of excellence for the management of contingent liabilities. CLCC was established within UK 바카라 사이트 Investments in partnership with GAD, in 2021.