Longevity risk is the risk that members live longer than expected. It constitutes one of the key risks for all LGPS Funds.
The pandemic has shown us the importance of understanding exposure to longevity risk and setting appropriate mortality assumptions for valuations.
Most of the LGPS Funds we advise carried out a longevity analysis as part of the last actuarial valuation at 31 March 2019. Since then, the world has been struck by pandemic and we expect that Funds will again wish to take a closer look at their mortality experience to inform the assumptions to be used for the 2022 valuation.
This note explores the three key steps of longevity analysis, recent trends, and future mortality improvements.
Hagen Eichel, actuarial consultant at BW has co-authored this briefing note.
Longevity analyses for LGPS – 2022 valuations
In this briefing note we look at the three key steps for longevity analysis, recent trends, and future mortality improvements.DOWNLOAD NOW
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