Description: Overview of a recently published paper that explains how credibility theory can be applied to develop mortality assumptions for defined benefit plans.

Description: Pricing longevity swap reinsurance transactions consists of a number of different actuarial tasks, each of which hides potential pitfalls. The article outlines the pricing process, which includes a detailed analysis of current mortality experience of the portfolio to be transferred, choice and calibration of an appropriate model for mortality improvement trends and the calculation of a risk margin which reflects the uncertainty associated with the pricing best-estimate, which includes mis-estimation risk, model risk, longevity basis risk and stochastic uncertainty.

Description: Frequently risk is portrayed as something to be avoided, especially in public retirement plans. This paper argues taking risk is likely the prudent choice.

Description: The selection of a discount rate is one of the most important assumptions for the calculations of present values. The paper presents the basic properties of the key measurements of investment returns and the discount rates associated with these measurements.

Description: Discussion of competing theories for valuing public pension liabilities. Emphasis on revised Actuarial Standards of Practice that focus on the purpose of the measurement.

Description: The standard for measuring retirement income adequacy has been the final earnings replacement rate (usually targeted at 70%). But - does it work?