CMI Working Paper 69 accompanies the updated version of the CMI Mortality Projections Model, CMI_2013, and is issued alongside the Model and an updated User Guide

Note: More recent versions of the CMI Mortality Projections Model have subsequently been released. View the full list of model versions

The structure of the CMI_2013 Model is identical to that of the previous versions and is accompanied by an updated User Guide.  However, the default parameters contained in the model have been updated to reflect the publication of England and Wales population mortality data for calendar year 2012. This Working paper illustrates the impact of incorporating data for 2012.

CMI Working Paper 69 also summarises the responses to the recent consultation on the future of the Model and the CMI Library of Mortality Projections and outlines the Committee’s reaction and planned next steps

The default Initial Rates of Mortality Improvement are higher than those published in CMI_2012 at the youngest ages, for both males and females, however they are lower at older ages, again for both males and female. These reductions at older ages mean that Core Projections generated by CMI_2013 produce lower expectations of life than those produced by CMI_2012 (with other parameters held constant) for both males and females.

Age-period-cohort spreadsheets have been issued in response to the consultation because there were requests for increased transparency of the derivation of the Age/Period and Cohort Components of the initial rates of improvement.

Contact Details

If you have any questions about the CMI please email

info@cmilimited.co.uk

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  • Spaces available

    The General Insurance (GI) Spring Conference is a result of the General Insurance Lifelong Learning Committee (GILL) combining this year’s 'Current Issues in General Insurance' (CIGI) and 'Technical Issues in General Insurance' (TIGI) conferences into a virtual webinar series over 19 – 25 May that will be available to watch online globally.

  • CILA 2021

    Available to watch globally in May.
    19-21 May 2021
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    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; on-going financial consequences of the COVID pandemic; or self-imposed changes in regulatory requirements and accounting standards.

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    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

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    The webinar will look at several aspects of intergenerational fairness and our panel of experts will challenge you, society, taxpayers and generations X, Y and Z on key aspects of DB v DC pensions, public v private sector pensions, state benefits and key aspects of sustainability.

  • Pensions Conference 2021

    Online webinar series
    16-22 June 2021
    Spaces available

    Welcome to the programme for our 2nd Virtual Pensions Conference. This year's conference features 11 webinars offering members and non-members the opportunity to get up to date content from leading experts in the pension industry. There will also be opportunity to ask questions and contribute to the discussion.

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    Mathematical Futures: The Actuary in a World Transformed – Sir Adrian Smith will outline how advances in data science, machine learning and artificial intelligence in the world of big data will transform the nature of many industries, including financial services. The broader environment within which mathematics is applied will change rapidly, often led by innovative yet disruptive forces outside. These changes will undoubtedly have an impact on the work of actuaries - and the profession will need to adapt quickly to thrive.

     

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    Given our commitment to the safety of our members and employees, and as the easing of restrictions in respect of COVID-19 cannot be guaranteed at this point in time, we have decided to hold our AGM virtually again this year.

    The Business of the AGM

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    Join newly inaugurated IFoA President Dr. Louise Pryor as she explores what we need to do to keep abreast of the changing world – and how we can seize the resulting opportunities – in her Presidential Address, ‘A Learning Society’

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    This is a free webinar on the consultation on changes to the Practising Certificates (PC) Scheme.

    The proposals come from a recent review of the PC Scheme which was the first substantive look at the IFoA’s approach to the requirements and process for PCs since 2010. It responds directly to feedback received on how the current scheme works especially that received from members and PC Holders.

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    The paper “Asset liability modelling in the quantum era” shall be presented by its authors, Tim Berry and James Sharpe, and chaired by Andrew Smith, Assistant Professor in the School of Mathematics and Statistics at University College Dublin.

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