Working Paper 112 was originally published in November 2018 and reissued in January 2019 (see above). The working paper describes additional analyses of pension annuities in payment over the period 2011 to 2014.
The working paper describes additional analyses of pension annuities in payment over the period 2011 to 2014. This follows Working Paper 101 which was issued in July 2017 alongside the “all offices” results for 2011-2014.
This paper sets out the results of two separate pieces of analysis:
- indicative graduations of the 2011-2014 data, including by product; and
- multivariate analysis of the experience using Generalised Linear Models.
Both analyses are intended to help us consider whether it is appropriate to produce new graduated mortality tables for pension annuities in payment and, if so:
- What factors we should include in the tables, in addition to age and gender; and
- What issues we may encounter in the data, and how we should resolve such issues.
We do not intend issuing new tables based on the dataset used for these analyses; instead we will use a more recent period once we have that dataset. Undertaking these analyses is intended to facilitate speedier production of new tables and making them available in this paper gives Subscribers an opportunity to comment on our preliminary thinking. We have included a number of specific questions at the end of the paper and would be very pleased to receive comments on these; comments can be sent to annuities@cmilimited.co.uk preferably by 31 December 2018, to enable us to take account of these views in producing draft tables.
Note: the paper and accompanying spreadsheet are available to Authorised Users only.
An Excel spreadsheet of the indicative rates is released alongside this paper.
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Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible? This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them. -
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Louise Pryor, IFoA President, will chair this free-to-view session, in which Alex Darsley, TPR, Actuarial Regulatory Policy, will be discussing the regulator’s 
Internal audit is often the Cinderella of the audit world. It’s a regulatory requirement for insurance companies to have an internal audit function, so why not make it as useful as possible? This session will look at how to link an internal audit plan to the risk register, and how that helps audit committees and boards to spot problems and fix them.
Climate change is one of the greatest risks facing our world today. Addressing it will require multi-faceted solutions. Through this panel session, we will explore the different levers that can be used to meet net-zero targets including climate science and data, government engagement, and mobilising green finance.