2D or not 2D?

(Apr 24, 2012)

The Society of Actuaries (SOA) in North America recently published an exposure draft of a proposed interim mortality-improvement basis for pension-scheme work. The new basis will be called "Scale BB" and is intended as an interim replacement for "Scale AA".   Like Scale AA, the interim Scale BB is one-dimensional in age, i.e. mortality improvements vary by age and gender only. However, the SOA is putting North American actuaries on notice that a move to a two-dimensional projection is on the cards:

"the recommended replacement for Scale AA will likely be two-dimensional tables of gender/age/calendar year mortality improvement rates. RPEC encourages the developers of actuarialů

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Tags: mortality improvements, Scale AA, Scale BB, trend reversal, CMI

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