Guernsey Insurance Fund operating deficit before investment returns (£m)
The amount by which the Guernsey Insurance Fund's spending exceeded its income, before investment returns, from 2021 to the 2027 Budget. The deficit was £29.1m in 2021 and is budgeted at £22.9m for 2027.
Read this with the chart: Before investment returns, which have roughly matched the deficit and so held the reserve level. 2021 to 2024 come from the Committee for Employment & Social Security's policy letters (P.2024/78 and P.2025/113). 2025 to 2027 come from the Budget 2027 report (page 143) and are on a different basis: after depreciation and, in 2025 and the 2026 forecast, a small transfer to the Revenue Service IT project. 2026 is a forecast and 2027 a budget.
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Sources
- Committee for Employment & Social Security, "Contributory Benefit and Contribution Rates for 2025", P.2024/78
- Committee for Employment & Social Security, "Contributory Benefit and Contribution Rates for 2026", P.2025/113 (policy letter dated 8 September 2025)
- States of Guernsey Budget 2027 (full report), Committee for Employment & Social Security pages 116 and 117 and Contributory Funds page 143, paragraphs 4.28 and 4.39 to 4.41
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