The 00 series tables have been published in two CMI working papers. The mortality rates themselves are also available in spreadsheets. These final tables, together with full documentation of their derivation, will be published formally in a CMI Report in due course.
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.
The CMI will not be seeking approval for any specific projections of future mortality associated with the new tables. The CMI is evaluating two methodologies for mortality projections - P-spline and Lee-Carter - and is trying to explain the benefits and shortcomings of each. However it is not seeking approval for either methodology, nor does it rule out alternative approaches.
The development of these tables has been published in three working papers:
- CMI Working Paper 8 (Aug 2004), contained initial findings and proposals on which tables to graduate.
- CMI Working Paper 12 (Apr 2005), contained proposed graduations for the assured lives tables.
- CMI Working Paper 16 (Sept 2005), contained proposed graduations for the annuitant and pensioner tables.
The CMI has considered the feedback received on the draft tables and published two further working papers, containing the final 00 series base tables of mortality:
- CMI Working Paper 21. The Graduation of the CMI 1999-2002 Mortality Experience: Final 00 Series Mortality Tables - Assured Lives.
- CMI Working Paper 21. Mortality Rates.
- CMI Working Paper 22. The Graduation of the CMI 1999-2002 Mortality Experience: Final 00 Series Mortality Tables - Annuitants and Pensioners.
- CMI Working Paper 22. Mortality Rates.
Formula (1) on page 9 of Working paper 21 is incorrect. This Erratum (added 5 May 2011) gives the corrected formula.
The changes incorporated as a result of feedback to the draft tables are relatively minor:
- The final life office pensioner tables for normal retirements now start at age 20. As a result the rates between ages 50 and 65 have changed from the draft rates to reflect assumptions regarding the experience of ‘healthy’ lives rather than the actual experience.
- A more accurate method of deriving qx from the graduated formulae for µx has been used.
- The naming of some tables has been altered from the draft tables.
More detail on these changes is included in the working papers. In addition, feedback received that has not been incorporated in the final tables is documented in the two working papers, so that actuaries are aware of the concerns expressed that have not been reflected in the final tables, and can make suitable adjustment to the published base tables if they feel it appropriate to do so.
Note that the life office pensioner tables for those retiring early and the combined tables have not been extended below age 50, in the absence of any clear data. Extended rates for these tables were subsequently developed in Working Paper 26. However, the CMI is not seeking approval for these rates from the profession.
Related documents
-
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 -
CMI Working paper 16. The graduation of the CMI 1999-2002 mortality experience: Proposed annuitant and pensioner graduations
27 September 2005 -
CMI Working paper 21. The graduation of the CMI 1999-2002 mortality experience: final 00 series mortality tables - assured lives
31 July 2006 -
CMI Working paper 21. Mortality rates for the 00 series assured lives tables, based on data for 1999-2002 collected by the CMI
31 July 2006 -
CMI Working paper 22. The graduation of the CMI 1999-2002 mortality experience: final 00 series mortality tables - annuitants and pensioners
31 July 2006 -
CMI Working paper 22. Mortality rates for the 00 Series annuitant and pensioner tables
31 July 2006 -
Erratum to CMI Working papers 12 and 21, and CMI Report 23
4 May 2011
You might also like
Contact Details
If you have any questions about the CMI please email
Filter or search events
Events calendar
-
Pensions: Actuarial Factors used to Calculate Benefits in UK Pension Schemes
Webinar28 January 2021The IFoA’s Actuarial Review Team has published its first thematic review, which looked at the actuarial advice given by scheme actuaries to UK pension scheme trustees on setting transfer values and commutation rates.
-
India Town Hall
Webinar28 January 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual India Town Hall 2021, hosted by John Taylor with IFoA Council Member Mahidhara Davangere and IFoA Chief Executive, Stephen Mann.
-
Winter Thought Leadership Lecture with Vicky Pryce
Webinar3 February 2021What are the options for the world economy looking ahead?
In this Thought Leadership Lecture, Economist, Vicky Pryce, will be discussing world economic trends, including the differences in geographical performance and how output is recovering and where.
-
Professional Skills Training Webinar - 9 February 2021
Webinar9 February 2021Trust and Leadership for Actuaries
Led by Dr. Jim Baxter, University of Leeds, this webinar introduces some key ideas in the ethics of trust, with a particular focus on those in, or on the path to, leadership roles. Dr Baxter is joined by a panel of experienced leaders who will give their personal perspectives on how they understand the value of trust and how they seek to promote and inspire trust, drawing on their experiences of leadership. The panel includes:
-
Health and Care Hot Topics webinar
Online webinar10 February 2021In this webinar, we have two presentations showing the latest research on the implications for life and health insurers of two key issues: genomics and pandemic risk.
Dr Peter Joshi and Paul Timmers will share their research on how well-established underwriting processes can allow for genomics in predicting expected mortality and morbidity. They will then discuss the potential for stratified screening and personalised medicine to improve health and reduce claim costs.
-
As the world’s attention begins to turn to COP26 later this year in Glasgow, Sarah Gordon (Chief Executive, Impact Investing Institute) will share her vision for how the financial services industry can deliver for people and the planet, as well as how to encourage more investment with the intention to generate positive, measurable social and environmental impact alongside a financial return.
-
Sub-Saharan Africa Town Hall
26 February 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual SSA Town Hall 2021, hosted by John Taylor with IFoA Council Members Mukami Njeru, Prosper Matiashe and IFoA Chief Executive, Stephen Mann.
-
MENAP Town Hall
2 March 2021IFoA Immediate Past President John Taylor would like to invite you to the Institute and Faculty of Actuaries’ (IFoA) virtual MENAP Town Hall 2021, hosted by John Taylor and IFoA Chief Executive, Stephen Mann.