What age definition is used for mortality rates in the CMI tables?

The CMI uses the standard definition of q(x) in its tables; that is q(x) is the probability that a life aged exactly x will die in the next year ie, before attaining exact age x+1. Similarly, q(x+.5) is applicable from exact age x+.5 to exact age x+1.5. This notation is described in most standard texts on the subject, eg, page 8 of Life Contingencies by Alistair Neill. For the avoidance of doubt, the age definition in the tables is not next, nearest or last but exact.

Where do I find published mortality tables?

  • The 00 series base mortality tables were published in CMI Working papers 21 and 22.
  • In 2002, an interim basis for adjusting the 92 series mortality projections was published in CMI Working paper 1
  • The 92 series base mortality tables and projections were published in CMI Report 17.
  • The 80 series base mortality tables and projections were published in CMI Report 10.
  • Earlier mortality tables were published in various printed volumes which are not available electronically.
  • All published CMI base mortality tables are available in Excel format. 

How are joint life cases treated?

Joint life cases are treated as a single life that is in force in both the male and female investigations. When the first life dies it is treated as a death in that investigation. The second life then exits from the other investigation. The exposed to risks for the two lives are the same except in the last year where the death is exposed for a full year and the other life is exposed for half a year.

The 00 series tables are described as giving mortality rates applicable to the calendar year 2000 - but at what exact point in 2000 do they apply?

For the 00 series tables, the value of qx applies on average to a life attaining age x in the middle (i.e. midnight between 30 June and 1 July) of 2000 and gives the probability of death before attainment of age x+1 in the middle of 2001. The 'base' year for these tables is thus 2000. Similar comments apply to the 92 series (mid-1992 to mid-1993) and the 80 series (mid-1980 to mid-1981).

Why are the exposed to risks for joint life cases so different for males and females in the smoker investigations?

One life may be a smoker and the other a non-smoker. This means that the smoker and non-smoker exposed to risks must be aggregated before the male and female exposed to risks are compared. (Ref: CMI Report 19, 105)

I am unable to reproduce the CMI results. When I multiply the exposed to risk at age x by the relevant mortality rate qx the expected number of deaths I calculate differs from the CMI’s figure. Why is this?

The CMI analyses use an initial exposed to risk and an age definition of age nearest. This means that lives are exposed from age x–½ to x+½. Since the mortality rate q applies as at the start of that year of age, qx–½ is used.

Can you provide an analysis of the temporary assurance investigation by ‘amounts’ as well as ‘lives’?

No. ‘Amounts’ data is currently only collected for the immediate annuitant and life office pensioner investigations. For all other investigations, including temporary and permanent assurances, we only have information on the number of policies. However, work is currently being undertaken to switch to a per-policy submission method for the mortality investigation, and this will enable us to carry out more detailed analyses. Find out more on the Per-policy data submission FAQs page.

Can you provide information on the correlation between the mortality experience and size of policy for the annuitant and pensioner investigations?

No. All data we receive is in an aggregated census format - we do not have details of individual policies. However, work is currently being undertaken to switch to a per-policy submission method for the mortality investigation, and this will enable us to carry out more detailed analyses.  Find out more on the Per-policy data submission FAQs page.

Can you provide any information on mortality experience broken down by occupation / socio-economic group / geographical location / cause / other?

No. We have no information on the make-up of the lives comprising the data, other than that they are all holders of policies with UK insurance companies. An investigation into mortality by cause of death used to be carried out, but this was discontinued in 1995. More information will become available once per-policy data collection is in place.

Can you suggest other possible sources of UK mortality information?

How should stakeholder pension plans be treated for data submission purposes?

Personal stakeholder pensions should be included in the same data return as for personal pensions data ie, investigation 22 for polices in deferment and investigation 24 for policies in payment. Currently there is no investigation for group stakeholder arrangements.

How will the reporting of annuities in payment be affected by pensions sharing on divorce?

Where the annuity record has been split so that both annuities are being recorded then the member’s pension can be recorded in the normal way (though at a reduced amount), and the ex-spouse’s policy should also be recorded as another active member (investigation 31 or 33). The point is that the spouse investigation (investigation 34) is recording the mortality of spouses after the death of their partner and the divorced spouse record should not be included in that investigation.

In the event of an office’s restructuring, for example through mergers, demutualisations or other transfers of business, should separate returns still be made for the original office numbers or should these be combined?

Provided the CMI is notified as to any changes in grouping, the way that policies are grouped is really a matter for the companies involved. The CMI aggregates the data prior to wider publication. Our main concern is to make sure that, overall, we collect as much accurate data as possible. At the company level, the main users of the data split are the offices themselves. This is reflected in the office specific reports produced for each office, and so if an office wishes to track the experience of each portfolio separately then it should continue to return data in the original way using the original office numbers.

What table is recommended for [the particular experience I am looking at]?

It is down to each individual actuary to choose the mortality table, and any adjustments to it, for the particular experience in question. We cannot “recommend” a table to be used.

What factors drive future movements in mortality improvements?

Possible factors include medical advances, lifestyle changes, etc. but unfortunately the CMI does not have information available.

Contact Details

If you have any questions about the CMI please email

info@cmilimited.co.uk

Filter or search events

Start date
E.g., 26/08/2019
End date
E.g., 26/08/2019

Events calendar

  • IFoA & PRI Webinar: TCFD – leaders and challenges

    Online webinar
    2 September 2019

    Spaces available

    In collaboration with the Institute and Faculty of Actuaries, the Principles of Responsible Investment is delighted to host this webinar discussing the response to the TCFD’s recommendations two years on from their publication. The webinar will feature new analysis of the 591 investors representing $45 trillion who responded to PRI’s 2019 climate indicators, insights from the past Chair of the IFoA’s Resource and Environment Board as well as an investor case study of implementation in practice from Aviva. 

  • SIAS Event: Climate Zero to Climate Hero

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    3 September 2019

    Spaces available

    An introductory session to help you get ahead with climate change.

    • Science, terminology and initiatives: handy facts to keep in your back pocket 
    • Getting your point across: how to influence people and avoid common traps and pitfalls
    • Taking action: what are actuaries expected to do...and what are we actually doing?
  • KSS event – The Regulatory Perspective

    Deloitte Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    5 September 2019

    Spaces available

    This KSS talk, presented by the FCA Head of Department in Scotland, will focus on the following 3 main areas:

    • FCA business plan priorities
    • The future of regulation
    • FCA Engagement in Scotland
  • Professional Skills Training session (Jointly held with China Life)

    China Life Insurance, Beijing •  China Life Shanghai Office • China Life Shenzhen Office  
    6 September 2019

    Spaces available

    Friday, 6 September, Beijing Local Time (CST) 14.00-16.30; British Summer Time (BST) 07.00-9.30

    The IFoA Beijing Office and China Life are pleased to be co-hosting a Professional Skills Training (PST) session in Beijing, Shanghai and Shenzhen on Friday, 6 September. Wen Li (FIA), the IFoA Lead Representative in China and East Asia, will lead the PST presentation and discussion on ‘Getting it right!’.

    The main venue will be in Beijing. Members in Shanghai and Shenzhen can join the interaction with Beijing via video conference at China Life’s regional venues. (see full details below)

  • Spaces available

    The actuarial profession has much to offer the world of banking. In this second webinar on opportunities for actuaries in banking we have two actuaries sharing their experience. They will talk about the opportunities there are in banking; describing the actuarial aspects of the work they do, the roles they see for actuaries and the skills actuaries can bring to the banking industry. They will share their experiences of how they got into banking as well as give their thoughts on how actuaries can enter the banking profession.

  • KSS event – The Future of the Actuarial Profession with Alan Watson

    Willis Towers Watson 2 Lochrin Square, 96 Fountainbridge, Edinburgh EH3 9QA
    23 September 2019

    Spaces available

    This KSS talk will explore how the Actuarial Profession is changing by looking at the past, the current and the future; considering what will be the key issues impacting the Profession over the next 20 years and why this will be different from today. Why will areas like data science be important?  What does the future hold for reserved roles? What impact will the Profession have on other professionals?  And much more!

  • GIRO Conference 2019

    EICC, The Exchange, 150 Morrison St, Edinburgh EH3 8EE
    24-26 September 2019
    Spaces available

    GIRO is attended annually by over 800 delegates and speakers who are keen to discuss key topics such as Pricing, Reserving, Modelling and the future of the insurance industry. GIRO 2018 was a huge success and we have opened bookings early for what we hope will be another brilliant conference at the EICC in Edinburgh this year. 

    `

  • Chief Actuaries and Senior Life Actuaries Workshop 2019

    Staple Inn Hall High Holborn London WC1V 7QJ
    2 October 2019

    Spaces available

    This workshop, now in its sixth year, is aimed at senior actuaries working in life insurance - predominantly Chief Actuaries, but also Reviewing Actuaries and others working in risk and financial reporting. It will provide seven hours of relevant CPD.

  • The Future of the Actuarial Profession

    Staple Inn Hall, High Holborn London WC1V 7QJ
    3 October 2019

    Fully booked.

     

    Three actuaries – and CEOs – discuss their views on how the business world is changing and what that might mean for actuaries in the future.

  • Spaces available

    Have you ever thought about working in wider fields? Would you like to play a role in the fight against climate change to make the planet better? 

    It can be difficult to do this - but seeing an example you can follow can make it more realistic. In this ‘green’ case study a template is outlined to show how actuaries can apply their skills more broadly - and in doing so, to make a difference.

  • RSS/IFoA Data Science Ethics: the role of practitioners

    Royal Statistical Society, 12 Errol St, London EC1Y 8LX
    7 October 2019

    Spaces available

    The Institute and Faculty of Actuaries and the Royal Statistical Society have worked together to develop joint ethics guidance on data science. This is the culmination of an 18 month programme of practitioner led work. 
     
    Join us for the launch of this new guidance, with a high-level panel discussion which will explore the role of data science practitioners and professional bodies in data ethics. 

  • SIAS Event: AGM and talk on a Monetary Approach to Economics

    Staple Inn Hall. High Holborn, London, WC1V 7QJ
    8 October 2019

    Spaces available

    The SIAS Annual General Meeting will commence at 5.45pm and be followed by a talk given by the well known economist and author, Steve Keen, at 6pm. A live webinar will be available. 

  • Career Event - Count Me In

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    10 October 2019

    Spaces available

    This event is aimed at school age young people to encourage then into the profession

  • KSS Event – GAD: the 100 year life (Edinburgh)

    KPMG  Saltire Court 20 Castle Terrace Edinburgh EH1 2EG
    22 October 2019

    Spaces available

    The Government Actuary’s Department (GAD) marks its centenary this year. George Russell, formerly Deputy Government Actuary, who currently heads up GAD’s Edinburgh office, leading on GAD support to the devolved administrations in Scotland and Northern Ireland, will outline GAD’s development over that period and its range of work today. Having just “celebrated” his 25th anniversary of joining GAD, George will also reflect on some of the challenges and opportunities of advising at the interface of the actuarial and the political worlds.

  • KSS event – GAD: the 100 year life (Glasgow)

    Barnett Waddingham 163 West George Street, Glasgow, G2 2JJ
    24 October 2019

    Spaces available

    The Government Actuary’s Department (GAD) marks its centenary this year. George Russell, formerly Deputy Government Actuary, who currently heads up GAD’s Edinburgh office, leading on GAD support to the devolved administrations in Scotland and Northern Ireland, will outline GAD’s development over that period and its range of work today. Having just “celebrated” his 25th anniversary of joining GAD, George will also reflect on some of the challenges and opportunities of advising at the interface of the actuarial and the political worlds.

  • Sessional Meeting - Autonomous Vehicles and impacts on the wider insurance industry

    Staple Inn, High Holborn, London WC1V 7QJ         
    28 October 2019

    Spaces available

    The Institute and Faculty of Actuaries is running a sessional meeting on autonomous vehicles on 28th October.  The session will showcase the work of the IFoA “Autonomous Vehicles” working party alongside a number of expert external presenters. 

  • ARC Event: Beyond Proportional Hazards

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    30 October 2019

    Spaces available

    ARC Event: Beyond Proportional Hazards: Statistical methods for assessment of the impact of medical advances and health interventions on longevity and population projections.

    This workshop is being delivered by the Actuarial Research Centre’s (ARC) ‘Big Health and Actuarial Data’ Research Programme.

  • Hot Topics in Health and Care: Networking and Drinks

    Staple Inn, 4 High Holborn, London WC1V 6DR
    4 November 2019

    Spaces available

    This evening will feature two new cases studies that highlight the implications for insurers of issues impacting on health and mortality for life, pensions, and health and care products; Impactability modelling: a worked example in Type II diabetes presented by Josephine Robertson, and Seasonal Mortality in England and Wales 1993-2016 presented by Mary Hall, Dublin City University.

  • SIAS Event: Introduction to the Mortality Research Steering Committee (MRSC)

    Staple Inn Hall, High Holborn, London, WC1V 7QJ
    5 November 2019

    Spaces available

    The MRSC is responsible for guiding the profession’s research in the areas of longevity, mortality and morbidity such that it is recognised as a thought leader in this area. It has recently been reviewing what the priorities and have identified 6 areas that we believe are the most important areas of research that should be the current focus and these are:

  • The challenges for AI in Autonomous driving – Professor Andrew Blake

    Royal College of Physicians of Edinburgh, 11 Queen Street, Edinburgh, EH2 1JQ
    11 November 2019

    Spaces available

    In conjunction with the Scottish Board and supporting the IFoA’s focus on data science.

    The IFoA’s Scottish Board have arranged for UK pioneer in Computer Vision and Machine Intelligence, Professor Andrew Blake to speak to delegates on the subject of AI in Autonomous driving. This lecture will focus on safety-critical operation and the computation of risk.  

  • Autumn Pension Seminar

    Grand Connaught Rooms, 61-65 Great Queen St, Holborn, London WC2B 5DA
    13 November 2019

    Spaces available

    Join us for this brand new seminar that brings together our Current Issues in Pensions, Pensions and the Law, and Investment for Pension Actuaries events. The seminar builds on the IFoA’s Annual Pension Conference with sessions covering CDC, TPR’s code of practice, investments, legal updates and Professional Skills Training with a focus on interactive discussion throughout.

    • KSS event: How is Scotland’s population changing and what are the implications?

      Barnett Waddingham, 163 West George Street, Glasgow, G2 2JJ
      14 November 2019

      Spaces available

      The National Records of Scotland (NRS) collects, preserves and produces information about Scotland's people and history to inform current and future generations - work that underpins the fabric of Scottish society and tells the story of our nation. This KSS talk will explore the following and other areas impacting Scotland’s changing population, and assess the potential implications of the changes:

      • population statistics
      • life expectancy
      • changes in age structure
      • birth and death rates, including causes of death statistics.
    • Life Conference 2019

      The Convention Centre Dublin, Spencer Dock, North Wall Quay, Dublin 1
      20-22 November 2019
      Spaces available

      The Life Conference is the premier event for professionals interested in life insurance.  Offering a wide range of workshops and plenary sessions it’s the perfect opportunity to discover what’s hot and current in life insurance ensuring you get up to date on the latest thinking and innovation whilst meeting and exchanging ideas with a broad range of professionals.

    • Autumn Lecture 2019, London - Rt Hon Nicky Morgan MP

      Lincoln's Inn The Treasury Office, London WC2A 3TL
      2 December 2019

      Fully booked.

      The IFoA is pleased to announce that this year’s Autumn Lecture will feature the Rt Hon Nicky Morgan MP as its guest speaker.  Nicky has previously served as Financial Secretary to the Treasury and Minister for Women. She now chairs the Treasury Select Committee whose remit is to examine the expenditure, administration and policy of HM Treasury, along with all of its agencies and associated bodies.

    • Autumn Lecture 2019: Live Streaming

      Webinar 
      2 December 2019

      Spaces available

      Watch the live stream of this year's Autumn Lecture with guest speaker Rt Hon Nicky Morgan MP. 

    • Behavioural Finance Research Launch- 14 January 2020

      Staple Inn, 4 High Holborn, Holborn, London WC1V 6DR
      14 January 2020

      Spaces available

      We are delighted to announce the launch of the findings from our ARC funded Behavioural Finance research with a special evening event at Staple Inn on Tuesday14th January 2020. Entitled Behavioural Aspects of Institutional Investment Decision-Making, this research programme is being delivered by City, University of London, Leeds University Business School and Ipsos.

    • Sessional: Impact of E-cigarettes Working Party

      Royal College of Physicians, 9 Queen St, Edinburgh EH2 1JQ
      24 February 2020

      Spaces available

      This sessional meeting will be of direct interest to actuaries and others working in the in the Health and Care, Life or Pensions sectors or indeed an actuaries with an interest in morbidity or mortality.