CMI Working Paper 78 contains a consultation on the proposed '08' Series tables based on the 2007-2010 datasets for Pension annuities in payment, Pension annuities in deferment and Life annuities. The paper provides an overview of the datasets, describes the methodology used to produce the tables, sets out the key statistics for each of the graduations and describes the extensions of the tables to younger and older ages.
Responses are requested by Friday 10 April 2015.
There are a number of Excel spreadsheets issued alongside this paper:
- The proposed '08' Series annuities tables. We stress that the mortality tables in this spreadsheet are issued as part of a consultation process, and may change before final publication.
- The indicative graduations of Pension annuities in payment data by duration and amount band; for the age range that was graduated only.
- All Offices annuities results for 2007-2010, comparing the experiences of the graduations dataset with the proposed '08' Series tables. These are available as:
- The datasets that underlie the graduations; reformatted to enable easier use in the graduation software, described below.
Three further outputs issued by the CMI simultaneously with this paper are highly relevant to the proposed graduations:
- CMI Working Paper 77: Report of the Graduation and Modelling Working Party, which heavily influenced the Committee’s thinking in producing the tables;
- CMI graduation beta software. In conjunction with the dataset, noted above, this allows users to investigate some alternative approaches to the graduation of the annuities datasets, including their extension to younger and older ages; and
- A user guide to the software.
These outputs are all available alongside CMI Working paper 77.
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