Longevity and adjustment in pension annuities, with application to Finland

Marie-Claire Koissi

Scandinavian Actuarial Journal, 2006, vol. 2006, issue 4, 226-242

Abstract: The aim of this paper is twofold. First, the improvement in adult mortality in Finland is studied. Lee-Carter (LC) Poisson log-bilinear model is used for mortality forecasting. Secondly, the paper studies how the pension annuities are adjusted to unexpected mortality pattern. A formula for funded plan is proposed. Application is made with Finnish mortality rates predicted using the LC model.

Date: 2006
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DOI: 10.1080/03461230600803935

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