UK - Latest longevity projections from the Continuous Mortality Investigation will have a minor affect on pension scheme liabilities, Aon Hewitt says.
The consultant said the overall impact of a new standard mortality table on typical pension plan liabilities is small - it is expected to reduce the liabilities of a typical pension plan by less than 0.2%.
Head of longevity Tim Gordon said the latest projections were a "positive step forward" for the pensions industry as, perhaps for the first time in 20 years, the impact was negligible.
He added: "The industry has been calling for stable yearly mortality projections for some time, in order to reduce unexpected jumps in scheme liabilities. Although it's still early days for what is a long term model, the CMI appears to have successfully achieved this."
Gordon also said it was encouraging the CMI published its table three months earlier than usual to aid sponsor and trustee budget planning.
The CMI is organised by the Actuarial Profession for the purpose of analysing mortality data from life assurance and pensions and producing standard actuarial mortality tables.
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