Description: This article examines the impact of a changing smoking rate on population-level mortality improvement and the importance of taking this driver into account.

Description: Effective risk management of a portfolio demands accurate and succinct models which explain the main risk factors. We look at the various requirements we demand of a model, and find that they can all be met with an import from medical statistics: survival models.

Description: The Total Career Benchmark Model, consistent with Retirement 20/20 principles, focuses on reconstructing and maintaining a consistent and reasonable sharing of risks and rewards amongst the four stakeholders: Individuals, Society, Employers and the Markets. Modern technology provides the necessary tools. A series of benchmarks are used for tax limits, target pensions, accrual to date etc. The self adjusting, consistent benchmarks under the TCB Model, means that all stakeholders speak the same language. Individuals and Employers can easily compare what they have to what they need – and more importantly can see how to accrue what is needed. An individual’s ability to tax shelter income over a career is not dependent on the design of any employer pension plan. All funds allocated to an individual remain the individual’s and are not used to subsidize another person – except for the inherent risk sharing of an annuity – by hidden transfers of value.

Description: Announcement of this event, to be held May 6-9, 2012. The theme is 'The Actuarial Profession and Social and Economic Development'.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: A discussion of the theoretical basis of deferred income tax accounting (accounting for actuaries), an overview of the current statutory accounting rules governing income tax accounting under SSAP 101, and some examples of the effects of SSAP 101’s admissibility test on regulatory capital.

Description: This article walks through the process of building a cluster model using off-the-shelf software.

Description: This article discusse key considerations to account for while planning for and executing the initial actuarial model handoff from development to production.

Description: Modeling experience sharing by David Yu who leads the retirement product and asset model development team within Prudential Financial