Years of spending the two social security funds hold in reserve
How many years of its own spending each fund's reserve would cover: the Guernsey Insurance Fund, which pays the States pension and contributory benefits, and the Long-term Care Insurance Fund, which pays towards care-home fees. The pension fund's buffer has thinned since 2021 while the care fund's has grown, yet the last actuarial review projected both funds exhausted, in 2039 and 2053.
Read this with the chart: Cover is year-end net assets divided by that year’s expenditure, as the States report it. 2025 is a forecast and 2026 a budget. Cover is the buffer each fund holds now, not its exhaustion date: the actuarial reviews covering 2015 to 2019 projected the Insurance Fund exhausted by 2039 and the care fund by 2053, so a high cover today does not make a fund secure for the long term. A revised actuarial review of both funds is under way and, once published, supersedes these figures. The axis starts at zero, where a fund would be empty.
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Sources
- Committee for Employment & Social Security, Contributory Benefit and Contribution Rates for 2026, P.2025/113 (2022 to 2026 figures)
- Committee for Employment & Social Security, Contributory Benefit and Contribution Rates for 2025, P.2024/78 (2021 figures)
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