CMI Working Paper 127 was published in December 2019. It contains a number of analyses that are intended to be helpful to users of the CMI Model, including:
- Discussions of calculation methods for, and interpretation of, confidence intervals for mortality improvements.
- Mortality improvements by Index of Multiple Deprivation (IMD).
- Mortality improvements in CMI datasets.
- International mortality improvements and how England & Wales compares.
- The impact of calibrating the Model to data for Scotland, Northern Ireland, or the United Kingdom.
- Uncertainty in population estimates, and the possibility of revisions following the 2021 census.
An updated Working Paper 127 was issued in January 2020 to correct minor issues in Sections 5.1 and 8.1.
Important note: Whilst analysing improvements in the SAPS dataset for Working Paper 144, we discovered that we had inadvertently omitted a number of submissions from the analysis for this working paper. These omitted submissions have been included in the calculations in Working Paper 144, which supersedes the analysis in this working paper, and we have reissued this working paper with a prominent “health warning”.
These outputs are available to Authorised Users only.
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We’ve all heard about the gender pay gap. Sadly, the gap doesn’t just exist with base pay.
Research carried out by Legal & General in 2021 across the four million members in our Defined Contribution (DC) pensions, found that there’s a gender pension gap too, continuing the divide between men and women.
As current global events continue to demonstrate, geopolitical tensions present significant risks to corporates of all sizes. However, these types of risk are often not given the discussion time it needs at the board level or executive committee levels, nor the resources required to anticipate, analyse and mitigate them effectively.
At retirement, it has become very popular for those with Defined Contribution (DC) pensions to choose drawdown rather than an annuity, but drawing a sustainable lifetime income in this way is an impossible challenge for most people. We consider a Decumulation Pathway for the typical consumer, where a small part of the DC fund is set aside for any flexible access and legacy requirements. The bulk is then used to provide a lifetime income, utilising the pooling or insuring of longevity risk.
We continue to live in a world of global uncertainty. Survival depends on our ability to simultaneously navigate through the diverse root-causes, ranging from: the consequences of Climate Change; transitioning to Net Zero; increased inflationary pressures and supply chain issues; to self-imposed changes in regulatory requirements. CILA 2022 focuses on these challenges to ensure we continue to be informed and remain battle ready, as well as showcasing highlights of recent CMI outputs.
In the spirit of fostering the IFoA’s vibrant, global community and enabling our members to participate, we have decided to hold our AGM virtually again this year. This allows for greater accessibility to this important annual event, and for greater accountability of our organisation.
The Business of the AGM
Join newly inaugurated IFoA President, Matt Saker, for his Presidential Address.
We’re delighted to welcome you back to our first in-person conference since early 2020, also being delivered virtually in our first-ever hybrid event. The theme of our inaugural two-day conference is ‘Focusing on tomorrow’s actuary’ and will explore the contribution actuarial science is making to some of tomorrow’s biggest issues.