Unisex mortality rates

The CMI has produced a set of unisex mortality rates. These rates will assist actuaries who are:

• producing Statutory Money Purchase Illustrations in accordance with the FRC’s Actuarial Standard Technical Memorandum TM1.

• undertaking calculations in connection with the estimated cost of future pension annuities for Appropriate Pension Transfer Analysis and Transfer Value Comparators, as set out in COBS 19.1 and COBS 19 Annex 4C of the FCA Handbook.

• preparing projections, including for Key Features Illustrations, in accordance with COBS 13 Annex 2 of the FCA Handbook.

• undertaking redress calculations for non-compliant pension transfer advice in accordance with FG17/9 or, from 1 April 2023, DISP App 4.

The set was updated in November 2024 to include values applicable for the year commencing 6 April 2025.