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Fitting UK and US Mortality Projection Models to Each Other's Data | SOA

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Fitting UK and US Mortality Projection Models to Each Other's Data

Authors:

James G. Berberian, ASA, EA, MAAA, FCA, RPEC
Jack Carmichael, CMI
Cobus Daneel, CMI
Mei Du, FSA, CERA, MAAA, RPEC
Martin W. Hill, FSA, MAAA, RPEC
Patrick Nolan, FSA, MAAA, SOA
Jon Palin, CMI
Steven Rimmer, CMI

Description

This joint effort between the UK's Continuous Mortality Investigation (CMI) and the SOA compares two mortality projection models – the latest version of the CMI Mortality Projections Model, CMI_2021, and the latest version of MIM-2021 (MIM-2021-v3), produced by the Society of Actuaries and based on concepts developed by the Retirement Plans Experience Committee (RPEC). Both models were applied to data for England & Wales and the US to compare how results for a given country vary between the two models.

Materials

Fitting UK and US Mortality Projection Models to Each Other's Data