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Mort Improvement

Mortality Improvement Definition

Select from the drop-down list which of the four Mortality Improvement methods to use. The options are:

  • Calendar Year
  • Specified Year of Birth
  • Accurate Method
  • 2 Dimensional Table

Apply Mortality Rate Age Rating to Mortality Improvement Table

Check this box if the age rating being applied to the Pre Retirement, Post Retirement and Ill Health Mortality table should also be applied to the Mortality Improvement Factors.

For example, if a member is aged 46 nearest at valuation date and a -2 age rating is being applied to the Pre Retirement Mortality table. Then if the box is unchecked, then the age that SuperVal will use at valuation date for Mortality Improvement factors will 46. If the box is checked, the age that SuperVal will use at valuation date for Mortality Improvement factors will 44.

Base Year of Mortality Table

Base Year of Mortality Improvement Table

When using the Specified Year of Birth, Accurate Member Specific or 2D Tables projection methods, enter the Base Year of the Mortality Improvement Table.

For more information please see the Infocus Document relating to Mortality Set Up.

Term from Base Year (Member)

Term from Base Year (Death pre Retirement - Actives/Deferreds)

Term from Base Year (Contingent Spouse - Actives/Deferreds/Pensioner)

This field is only required if using the Specified Year of Birth projection method:

Enter the specified year of birth. This field would typically be set to say, 1945.

For more information please see the Infocus Document relating to Mortality Set Up.

Year of Birth (Member)

Year of Birth (Death pre Retirement - Actives/Deferreds)

Year of Birth (Contingent Spouse - Actives/Deferreds/Pensioner)

This field is used when the Calendar Year of Birth method is selected. Previous CMI reports have suggested a period of 20 years.

For more information please see the Infocus Document relating to Mortality Set Up.

Alpha Factor - Ultimate Improvement

If either of the Calendar Year, Specified Year of Birth or Accurate (Member Specific) Methods has been selected then double click to select the age related rate table (e.g. type HX) containing the values for alpha(x) at each age.

CMI No. 10 suggests alpha(x) to be as follows:

\= 0.5 for age ×<60

\= 0.01(x-10) for age 60 × 110

\= 1 for age ×>110

CMI No. 17 suggests alpha(x) to be as follows:

\= 0.13 for age ×<60

\= 1+0.87(x-110)/50 for age 60 × 110

\= 1 for age ×>110

For more information please see the Infocus Document relating to Mortality Set Up.

Decr Help

Rate tables can be selected by any of the following methods:

  • Right-click on the field for a list of appropriate Rate Tables. For a field that will accept more than one type of Rate Table (e.g. Miscellaneous Tables), the list will be restricted to the current Table Type specified in the field – if you wish to see all allowable Rate Tables, delete the Table Type from the field before clicking; or
  • Double Clicking on the field will produce the Rate Tables form where Rate Tables can be viewed (numerically and graphically) and Rate Tables can be added or edited. A Rate Table can be selected by pressing the Select button or double clicking on the Rate Table description in the tree; or
  • the list of allowable Rate Tables can be scrolled through by pressing the < or > keys. The description of the Rate Table to the right of the field will change as each new Table is selected.

Beta Factor - % of Mortality Improvement

Attained after Period of Years

If either of the Calendar Year, Specified Year of Birth or Accurate (Member Specific) Methods has been selected then double click to select the age related rate table (e.g. type HX) containing the values for beta(x) at each age.

CMI No. 17 suggests an age related step function after 20 years (suggested beta(x) for f20). SuperVal requires a HX type table containing the beta(x) values:

Beta(x)

\= 0.55 X<60

\= 0.55 × (110-X)/50 + 0.29 × (X-60)/50 60≤X≤110

\= 0.29 X>110

CMI No. 10 suggests a value of 60% after 20 years (suggested value for f20); SuperVal requires an HX type table containing 0.6 for all ages.

For more information please see the Infocus Document relating to Mortality Set Up.

Two-Dimensional Improvement Table (CSV File)

If 2D Tables has been selected or you are entering the PPF Overrides, the select from the drop-down list which of the available tables to use. The user will be able to select from the CSV files stored in the Library Folder containing the mortality improvement rates.

Version 9 is supplied with a sample 2D file called MortImpNew.csv.

The CSV file should contain 120 rows and 120 columns. Ages are held in the rows and Years in the Columns. The table should start at age 0 and the Year that your Table starts. If no year is entered SuperVal will assume this starts at Year 2000.

Two-Dimensional Improvement Table (Rate Table)

If 2D Tables has been selected, then users can upload mortality improvement tables into the SVDECR.SF file.

% Rating

A percentage adjustment can be made to either a Rate Table or a Salary.

The Rate Tables can be adjusted by a percentage loading to make the decrement rate lighter or heavier than the original table. The salary for new entrants can be loaded to reflect changes in the salary profile.

Enter the number as percentage above 100% i.e. if a loading of 110% is required then enter 10 or if a loading of 90% then enter -10. If no adjustment is required then leave blank.

SaveAs

Click the Save As button to save with a new file name.

Save

Clicking on the Save button allows you to save the entries.

Quit

Clicking on the Quit button allows you to exit without saving any of your changes.

In some of the screens you will be asked to confirm if you want to exit Ignoring all changes. If you click Yes, the file will be closed without saving any changes. If you click No you will be returned to your original screen.

From the Browser, the Quit button will take you to a graphical display of the results.