The Government Actuary's Department (GAD) has issued guidance on the transformation of pension schemes' data management systems to meet evolving regulatory requirements. The guidance, set out in a blog, emphasises the importance of robust data strategies to ensure compliance with data protection regulations whilst preparing for the implementation of pensions dashboards. Schemes must establish clear governance structures for data management, conduct regular audits, and enhance operational processes to handle new challenges such as partial matches and value data requests. The guidance particularly stresses that pension schemes must maintain high-quality data standards to avoid regulatory breaches and ensure accurate benefit calculations. As digital services become more prevalent, schemes are advised to develop comprehensive strategies that not only meet minimum dashboard requirements but also address rising member expectations for real-time access to pension information.

The Government Actuary's Department (GAD) has announced it is working with an AI partner to investigate fine tuning a large language model to perform quality assurance checks on pension administrator calculations. This adds to other programming languages GAD uses to produce results for clients including creating interactive dashboards to help inform strategic and investment decisions, developing a ‘Retirement Calculator’ following the McCloud legal ruling, and devising a modeller to support clients as they work towards equalising pensions for their members.

The Government Actuary's Department (GAD) has released its annual report and accounts for the 2023-2024 financial year, highlighting achievements in the pensions sector. Notably, GAD completed actuarial valuations of Public Sector Pension Schemes, a quadrennial project influencing approximately £40 billion in annual public spending. The department reviewed and updated 500,000 actuarial factors across 26 public service pension schemes, demonstrating its involvement in public sector pensions. GAD continues to improve its expertise in pensions administration, alongside climate and data analytics, to meet evolving public sector challenges. The report underscores GAD's commitment to innovation and expanding its reach across the public sector, particularly in pension-related services.

The Government Actuary’s Department (GAD) has published a blog by a GAD actuary and a director of the Local Government Mutual, Ian Rogers, which considers the approach to insurance across the UK public sector. Rogers has highlighted that currently local government authorities spend millions buying insurance each year whereas central government departments spend substantially less. The blog discusses why there is a mixed approach to insurance in the public sector, the challenges faced by Local Government Mutual in providing an alternative to conventional insurance to local authorities and how these challenges may be overcome.

The GAD (Government Actuary Department) states that the value of a pension in public service is significant, with employers contributing £50 billion annually or 27% of payroll, however, it remains an underappreciated component of employee compensation as many employees do not completely understand or engage with public service pension provisions.

The Government Actuary’s Department (GAD) has published guidance on access to the UK public service pension scheme 2016 actuarial valuation cost cap reports. The guidance features a table containing links to the relevant valuation report for the various public service pension schemes in the UK.

The Government Actuary’s Department (GAD) has published new actuarial guidance on 24 January 2024 on the early payment of pension in the Local Government Pension Scheme (LGPS) (England and Wales). The new guidance also covers benefits accrued before 1 April 2014, including members who left active service before 1 April 2014. However, while the guidance does not include any new actuarial factors, it does provide information about how the McCloud remedy will affect certain calculations covering individual incoming and outgoing transfers, early and late retirement, and an addendum for interfund transfers. This guidance replaces the previous guidance of 5 May 2021.

The Government Actuary's Department (GAD) has published guidance detailing quality assurance (QA) practices for pension scheme administrators. The guidance outlines systematic verification processes for calculations and communications, recommending regular scheme audits, automated solutions, and enhanced staff training. It emphasises the need for robust error prevention systems to ensure regulatory compliance and maintain member trust. The guidance provides specific implementation strategies for schemes to establish effective quality control mechanisms.

The Government Actuary's Department (GAD) has published three guides today; Staff transfers between public service pension schemes, Staff transfers from private to public service pension schemes and Staff transfers. These guides focus on protecting pension rights during transfers between public service pension schemes. Key areas addressed include broad comparability assessments, which ensure future pension benefits are at least equivalent, and bulk transfer options to protect past pension rights. The guides aim to assist public service pension scheme members and contracting authorities in navigating the complexities of pension transfers during staff movements within the public sector.

The Government Actuary's Department (GAD) has published a new guidance note 'Actuarial assumptions for broad comparability assessments for staff transferring between PSPSs - June 2024’. The actuarial assumptions set out in the new guidance are to be used for broad comparability assessments for staff transferring between public service pension schemes carried out by GAD under the government’s Fair Deal 2013 policy, until further notice. They will also be used for broad comparability assessments for staff transferring between public service pension schemes carried out by GAD under the Fair Deal 2004 policy. While the new guidance replaces the previous guidance dated November 2023 for all cases signed by GAD on or after 1 June 2024, the November 2023 guidance remains relevant for all cases that were processed by GAD between 1 October 2023 (the effective date of the last note) and 31 May 2024 inclusive.

The Government Actuary’s Department (GAD) has put forward three recommendations for the Scheme Advisory Board as part of a report on the 2022 actuarial valuations of the Local Government Pension Scheme England and Wales (LGPS).

The Government Actuary's Department (GAD) has published its actuarial valuation of the Firefighters' Pension Schemes (Wales) as at 31 March 2020. The valuation has been undertaken in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2023, which specify certain assumptions and require other assumptions to be the Welsh Minister's best estimates.