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Barnett Waddingham
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Briefings: Longevity analyses

Cost management in the LGPS and the 2019 valuation outlook

The 2019 formal valuations for the English and Welsh funds in the Local Government Pension Scheme (LGPS) are fast approaching and preparation is key. As if there wasn’t enough to do already, the cost control mechanism has been triggered.

Choosing the right mortality table for your Fund

Longevity is a topic of significant importance to defined benefit pension schemes and their actuaries. What can we learn from the latest research, what does it all mean for LGPS Funds - and why on earth does it have anything to do with shopping for shoes?

Spotlight on Longevity

The slowing of mortality improvements in the UK in recent years has been widely discussed. In this Spotlight we compare recent mortality in the UK to a large number of European countries.

Mortality analysis for LGPS Funds

As part of the 31 March 2016 valuation process, 15 of the English Funds participating in the Local Government Pension Scheme (LGPS) advised by Barnett Waddingham agreed to take part in a project to comprehensively review their mortality assumptions.

Spotlight on Longevity: Mortality improvements – does one size fit all?

The CMI Model is calibrated to data for the general population but is typically applied to pensioner or annuitant portfolios. These have different mortality rates and may experience quite different mortality improvements.

Spotlight on Longevity June 2016: what can we learn from international mortality data?

Projecting mortality trends is inherently uncertain and limited data makes this even more challenging. Can analysis of past trends in international data help us to better predict future trends in UK mortality rates?

Spotlight on Longevity December 2015: Has the 'golden cohort' lost its lustre?

In this Spotlight we analyse recent mortality improvements by cohort, including by cause of death, and assess the implications for pension and annuity portfolios.

Spotlight on Longevity October 2015: Dementia – A major challenge in understanding mortality by cause of death

Dementia is already the second most common cause of death group in England & Wales. Mortality rates from dementia are increasing, unlike other major causes, so it is likely to be the leading cause of death before the end of this decade.

Spotlight on Longevity June 2015: Allowing for coding changes in cause of death data

Considering mortality improvements by cause of death can provide insight into current and future trends, such as the recent dominance of circulatory disease as a driver of improvements.

Spotlight on Longevity April 2015: Smoking habits - the impact on mortality improvements

The adverse impact of smoking on life expectancy has been widely-recognised for many years. Our analysis suggests that around 20% of the observed improvements in UK mortality in recent decades can be attributed to reductions in smoking.

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