These tables are based on the ‘all office’ mortality experience for 1999-2002, as detailed in CMI Report 21 which was published in September 2004. The CMI consulted the profession about these, and other, proposed mortality tables in CMI Working Paper 8 which was published in May 2004. That paper was discussed at a seminar held in Staple Inn in June 2004.
In April 2005 CMI Working paper 12 was published. Working paper 12 contained proposals for the 00 series assured lives (permanent and temporary assurances) tables.
The proposed new tables of mortality for annuitants and pensioners are significantly lighter, over the main age ranges for these types of business, than the previous 92 series of tables: it is also clear that the ‘shape’ of mortality is somewhat different
However, the new tables are consistent with the results disclosed in the CMI’s regular annual reports on industry mortality experience, the quadrennium report in CMI Report 21 (2004) and with the information contained in CMI Working Paper 8. That paper gave a detailed comparison of the 1999-2002 experience with the 92 series tables, including confidence intervals for mortality rates at particular ages. In this way information as to the shape and level of mortality that the new tables will be required to describe was disclosed.
The CMI is aware that some offices are required, for some purposes, to use the latest published mortality tables. It should be noted that the information that is now being made available does not constitute ‘publication’ of the tables. At time of publication, it is expected that formal adoption of the 00 series tables will occur towards the end of Q1 2006, but this depends on feedback received.
Related documents
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CMI Working paper 16. The graduation of the CMI 1999-2002 mortality experience: Proposed annuitant and pensioner graduations
27 September 2005 -
CMI Report 21. Whole volume
31 May 2004 -
CMI Working paper 8. Considerations for the graduation of the CMI 1999-2002 mortality experience
1 November 2004 -
CMI Working paper 12. The graduation of the CMI 1999-2002 mortality experience: Feedback on Working paper 8 and proposed assured lives graduations
10 April 2005
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The importance of biodiversity for finance, business and policy is being increasingly recognised. While many studies highlight the overall economic impact that biodiversity loss could have, it is much more difficult to quantify and understand the particular impact that is may have on individual businesses or communities. The management and measurement of these risks is a field where actuaries are well placed to contribute.
Join leading experts to discuss key issues, emerging ideas and new research across the general insurance sector.
Join leading experts to discuss key issues, emerging ideas, and new research across the Life insurance sector.
Content will be aimed at all actuaries looking to understand the issues surrounding mental health in insurance and in particular those looking to ensure products and processes widen access for, and are most useful to, those experiencing periods of poor mental health.