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Posts feedKeeping it simple — postscript
Last week we looked at how to compare mortality-improvement bases for pensions and annuities. However, for many years some pension schemes in the UK did not have explicit mortality-improvement projections. Instead, they allowed for mortality improvements by making a deduction from the valuation discount rate.
Keeping it simple
Which mortality-improvement basis is tougher — a medium-cohort projection with a 2% minimum value, or a long-cohort projection with a 1% minimum?