This is the third internal actuarial report produced in relation to the forward liability of the benefit system. The purpose of the report is for the Chief Actuary to independently:
- Review experience over the year of exit rates, numbers of new clients and clients transitioning between benefits
- Review overall performance of the welfare system and the effectiveness of investments made to reduce benefit dependency
- Review and comment on the valuation of the forward liability
- Identify areas for attention to assist in managing long-term benefit dependency