Document ID: chunk:federal_register_of_legislation:F2013L01184:reg:10
Version: federal_register_of_legislation:F2013L01184
Segment Type: reg
Provision Reference: reg 10
Character Range: 6895–8842

10                    Projections
The scheme actuary must include the following matters in an annual financial sustainability report:
(a)          projections of future experience in the form of the best estimates of the following matters, with discussions of the projections:
(i)            future expenditure on care and support—presented as a set of cashflow projections over the long run, both in future dollar terms and as a percentage of GDP;
(ii)         lifetime cost of care and support to standardised new entrant cohorts—presented in the form of net present values, both in discounted dollar terms and as a percentage of GDP;
(iii)       future expenditure on care and support to current participants on the assumption of no change in the scheme design—presented in the form of a projection of net present values, both in discounted dollar terms and as a percentage of GDP;
(b)          a discussion of any changes in the projections since the previous annual financial sustainability report or other more recent set of projections provided by the scheme actuary to the Board, including the reasons for the change and any implications for the financial sustainability of the NDIS;
(c)          any recommendations of the scheme actuary in relation to any adverse changes in the projections;
(d)          a justification of the methodology and key assumptions used to prepare the projections;
(e)          comments on the extent to which the valuation assumptions are based on the historical experience of the NDIS and, if the assumptions have changed since the previous annual financial sustainability report, the reasons for that change and the consequences of the change;
(f)           a practical discussion of the level of uncertainty that surrounds the projection, including sensitivity or scenario analysis, a discussion of the main drivers of uncertainty, and any recommendations of the scheme actuary for managing uncertainty.