Overview of the Government Actuary’s Department Report
The Annual Report and Accounts for the Government Actuary’s Department (GAD) for the financial year 2025 to 2026 comprehensively outline the department’s extensive contributions, performance, and achievements throughout the year. This period marked the inaugural year of GAD’s ambitious 2030 strategy, which aims to enhance its influence on policy matters and optimise the value of its core operations. The department reported unprecedented levels of output, generating £29 million in revenue while addressing a diverse array of client challenges.
Leadership Insights and Adaptability
Fiona Dunsire, the Government Actuary, remarked on the department’s agility and effectiveness throughout the year. At the beginning of 2025-26, GAD realigned its leadership and organisational structure to better reflect the objectives of the 2030 strategy. Dunsire emphasised the rapid and purposeful response of the teams, noting that they exceeded the initial targets by delivering an increased volume of work across various sectors.
Client Engagement and Satisfaction
During the year, GAD collaborated with over 180 organisations, maintaining a commendable client satisfaction rating of 4.8 out of 5 stars. A notable 97% of clients indicated that GAD successfully unlocks value in its core offerings, underscoring the department’s commitment to delivering high-quality service.
In its ongoing commitment to staff development, GAD facilitated over 16,000 hours of training, equivalent to more than ten days of learning per employee. Additionally, 25 staff members engaged in loans and secondments across various government departments and public sector organisations, further enhancing collaborative efforts.
Significant Achievements in 2025-26
Throughout the financial year, GAD accomplished several key initiatives, including:
- Preparing disclosures for unfunded public service pension schemes, addressing accounting liabilities exceeding £1 trillion.
- Providing advisory services to NHS Resolution regarding a provision of approximately £60 billion.
- Conducting quality assurance for over 25 models across government.
- Making substantial advancements on the 2024 valuations of 20 public service pension schemes.
- Expanding its climate risk services, which included aiding government departments with climate scenario analysis.
- Enhancing operational efficiency through the adoption of modern analytical tools, automation, and artificial intelligence.
- Hosting the inaugural Public Service Pensions Conference, which brought together over 100 professionals from all eight public service workforces.
The report further highlights the development of tools designed to support GAD’s structured approach to integrating large language models into complex analytical tasks, ensuring transparency and robust governance in AI usage.
Future Outlook and Strategic Goals
The Annual Report and Accounts delineate GAD’s vision for the upcoming years, building upon the first year of its 2030 strategy. The department remains dedicated to amplifying its impact on government policy while striving to enhance the value derived from its core activities. Dunsire expressed pride in the collective efforts of GAD staff, clients, and stakeholders, noting that their collaboration significantly improves decision-making processes, ultimately benefiting society at large.
Sustainability Initiatives
In conjunction with the Annual Report, GAD released its inaugural standalone Climate and Sustainability Report, detailing its approach to managing climate-related risks and opportunities. This report outlines the department’s commitment to building resilience within its operations and advisory services. It also illustrates how GAD’s actuarial expertise aids the government and the broader public sector in comprehending climate risks, enabling informed and resilient decision-making.