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International update from Pension's Board

Malaysia: A new set of mortality tables has recently been published – M1115, based on the study of Malaysian assured lives from 2011 to 2015. The defined benefit market is not very large (besides the civil servants pension fund, which is). Private sector defined benefit (DB) plans that do exist typically pay lump sums at retirement, so this change will not be expected to materially affect retirement scheme liabilities.

Caveat: This summary was prepared in August 2018. This summary is deliberately concise and may not include a comprehensive description of the developments to which reference is made. Readers should refer to the relevant regulations for the full description. Professional legal and/or tax advice should be sought if necessary. Milliman does not accept any responsibility for actions taken based purely on the above materials.