Working Paper 26 - Extensions to Younger Ages of the "00" Series Pensioner Tables of Mortality

This is the latest in a series of Working Papers produced by the Mortality Graduation Working Party (MGWP) covering the graduation of the 1999-2002 mortality experience (the "00" Series).

In Working Paper 16, the proposed mortality rates for the life office pensioner tables started at age 50 due to low data volumes at the younger ages. However, feedback received suggested that practitioners would find it useful for the pensioner tables to be extended down to younger ages.

The MGWP therefore revised the tables for Normal retirements so that they started at age 20, and these were published in Working Paper 22 in July 2006. The "00" Series tables of mortality were officially adopted by the Actuarial Profession on 1 September 2006.

The rates for Early and Combined retirements, though, were left unchanged and commenced at age 50. However, there was also a demand for extending these tables and so in this Working Paper the MGWP suggests possible extensions down to age 20. There are a number of approaches that could have been adopted and we believe those set out in this Working Paper are reasonable, but other approaches may also be equally appropriate..

The CMI is not seeking approval for these rates from the Actuarial Profession.

Please note that it is the responsibility of any actuary or other person using a published mortality table to ensure that it is appropriate for the particular purpose to which it is put.

Please click here to access Working Paper 26 (pdf, 127KB). This paper is not intended as a consultation document, but feedback is welcomed. Please email newtables@cmib.org.uk.

Click here for the rates from Working Paper 26 in a spreadsheet.

Back to the CMI Home page