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Correspondence regarding GAD report (FOI)

Correspondence regarding GAD report (FOI)

Produced by the Freedom of Information office
Authored by Government of Jersey and published on 07 September 2023.
Prepared internally, no external costs.

Request  

Please see extracts attached from pages 21 and 22 of the Governemnt Actuary Department (GAD) Report.  Please provide a copy of the earlier correspondence regarding the economic assumptions on prices and earnings proposed by the GAD and the discussions that took place to agree them.

Attachment.pdf

Response

GAD’s approach for the 2017 and 2021 valuations was to set the economic assumptions on prices and earnings in line with those provided by the Fiscal Policy Panel.  The 2021 valuation’s economic assumptions are published in the Fiscal Policy Panel’s annual report, November 2022.

Jersey’s Fiscal Policy Panel Annual Report – November 2022.pdf (gov.je)

There is no formal correspondence on setting the economic assumptions.  There was informal contact between officers in the Government of Jersey and GAD, which confirmed that GAD should continue to use the Fiscal Policy Panel’s economic assumptions in the 2021 review.

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