Government Actuary

AAA

DEFINITION of 'Government Actuary'

An employee of the U.K. government who works for the Government's Actuary Department (GAD). The GAD provides actuarial consulting services for the public sector at a set fee structure. It provides consulting on numerous actuarial and statistical topics including:
- pensions policy and regulation
- occupational pensions
- staff transfers
- social security
- insurance
- healthcare financing
- actuarial training

INVESTOPEDIA EXPLAINS 'Government Actuary'

The first government actuary was appointed in 1917, and was shortly followed by the British finance ministry creating the actual Government Actuary Department. The government actuary first provided financial implication reports to parliament on health insurance proposals and unemployment-related legislation. The government actuary's role expanded significantly since World War II and today it advises public sector clients from the U.K. and worldwide.

RELATED TERMS
  1. Actuarial Service

    Method by which corporations determine, assess and plan for the ...
  2. Actuarial Science

    A discipline that assesses financial risks in the insurance and ...
  3. Actuarial Consultant

    A professional who advises clients on which methods, processes, ...
  4. Actuary

    A professional statistician working for an insurance company. ...
  5. Risk Tolerance

    The degree of variability in investment returns that an individual ...
  6. Actuarial Analysis

    The examination of risk by a highly educated and certified professional ...
Related Articles
  1. Retirement

    An Overview Of The Pension Benefit Guaranty Corporation (PBGC)

    Find out how this "retirement lifeguard" can save drowning plans, and why it's unlikely to be a long-term solution to the pension problem.
  2. Retirement

    Pension Plans: Pain Or Pleasure?

    Employees have a love/hate relationship with this retirement option.
  3. Home & Auto

    Insure Your Future With A Career As An Actuary

    If you've got excellent math skills, they can add up to a lucrative career as an actuary.
  4. Retirement

    The Investing Risk Of Underfunded Pension Plans

    Determine the risk to a company's EPS and financial condition resulting from an underfunded pension plan.
  5. Options & Futures

    Personal Pensions: Repackaging The Annuity

    Discover an investment that can provide a stable income once you've left the work force.
  6. Retirement

    The Pension Bill: A Wolf In Sheep's Clothing

    Find out why the 2006 act may not be all it's cracked up to be.
  7. Retirement

    Pension Protection Act Of 2006 Becomes Law

    Learn how the passed bill can help you save more for retirement.
  8. Investigate these expat havens if you seek a developed country with low barriers for getting a permanent resident visa – sometimes even citizenship.
    Personal Finance

    5 Developed Countries That Welcome Expats

    Investigate these expat havens if you seek a developed country with low barriers for getting a permanent resident visa – sometimes even citizenship.
  9. Free enterprise is the economic term used to describe an economy with very little government ownership.
    Economics

    What's Free Enterprise?

    Free enterprise is the economic term used to describe an economy with very little government ownership or regulation. In a free enterprise system, competition and the preferences and choices ...
  10. Some countries put up very high barriers for foreigners to get citizenship
    Personal Finance

    5 Countries Where It's Hardest To Become A Citizen

    The United States is one of five countries that put up very high barriers for foreigners to get citizenship. Here's how it compares to the other four.

You May Also Like

Hot Definitions
  1. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  2. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  3. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  4. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  5. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  6. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
Trading Center