Jon works closely with the Continuous Mortality Investigation (CMI). He is responsible for the production of the industry-standard CMI Mortality Projections Model and “S3” series pensioner mortality tables, and provides technical guidance to other CMI committees.
Jon also works with insurers and pension schemes, including projects on cause of death and stochastic models, and is recognised for his clear explanation of technical issues.
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.
For a recent survey, Barnett Waddingham gathered information on Solvency II capital requirements for longevity from eight internal model firms and we found significant variations in assumptions.
In this Spotlight we analyse recent mortality improvements by cohort, including by cause of death, and assess the implications for pension and annuity portfolios.