2015 Club Vita Longevity Exercise
We have completed our 2015 longevity exercise and here are a couple of the areas highlighted in the report:
- Life expectancy for men (aged 65) has increased at around 2 years per decade between 1993 and 2012.
- 50% of LPFA liabilities are concentrated on 12.1% of members.
- 10% of liabilities are concentrated on just 1.0% of members (i.e. 771 individuals).
- The bottom 50% of members account for less than 8.9% of liabilities.
The 2016 Club Vita report will be used for setting the mortality assumptions at the 2016 valuation.
This information will be used by our fund to target specific data cleaning projects over the coming year and we will be looking to sign off overall data quality with an error rate of less than 1% at 31 March 2016.
If you require any additional information please contact Tony Williams, Head of Employer Risk Services on 0207 369 6237.