Detecting year-of-birth mortality patterns with limited data |
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Authors: | S J Richards |
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Institution: | Edinburgh, UK |
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Abstract: | Summary. Late life mortality patterns are of crucial interest to actuaries assessing risk of longevity, most obviously for annuities and defined benefit pension schemes. The stability of public finances is also affected, as the governments have very substantial risk of longevity in the form of state benefits and public sector pension schemes. One important explanatory variable for late life mortality patterns is year of birth. Previous work has demonstrated various techniques for detecting such patterns, but always with long time series of mortality rates. The paper describes two alternative ways to detect such patterns, even with missing population data or the absence of a time series. The paper finds support for the idea that different birth cohorts have different rates of aging. |
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Keywords: | Aging Cohorts Longevity Mortality improvements Mortality laws 1919 |
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