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