1. Art83 WG Meeting EU – LIFE TABLE 2004 – 2007 Life analyse
Item 5 of the Agenda
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2. Content The EU-2004 Life Table Mortality 2004 - 2007 The 2008 ICSLT
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3. Article 9 of Annex XII must be applied
Introduction
Article 9 of Annex XII must be applied
Life table shall relate to a population as close as possible to members of the pension scheme
It shall be updated only on the occasion of the five-yearly actuarial assessment
The 2004 EU Life table has been used in pension assessments since 2004
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4. The 2004 EU Life table
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5. The 2004 EU Life table. Graph
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6. Base population
Active staff (permanent officials, temporary agents and contractual agents)
Officials on secondment in the interest of service (still contributing members)
Invalids: beneficiaries of an invalidity allowance
Retired officials: beneficiaries of a retirement pension
Invalids: beneficiaries of a invalidity pension
Beneficiaries of a survivor pension (partners, orphans and assimilated persons)
Ex-actives who deferred the pension benefit till the normal retirement age
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7. Base population
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8. Base population. Graph
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9. Observed mortality 27.06.2008 Art83WG / Doc.20080627 Art83_04
GSG = yearly update of pay scale
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10. Observed mortality. Graph
GSG = yearly update of pay scale
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11. Expected mortality 27.06.2008 Art83WG / Doc.20080627 Art83_04
ISP refers to promotions and seniority steps
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12. Observed and expected mortality
ISP refers to promotions and seniority steps
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13. Observed and expected mortality by sex
ISP refers to promotions and seniority steps
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14. Mortality rates
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15. Observed and expected mortality. Conclusion
The EU-2004 Life table overestimates mortality in ages 30 to 69 and
underestimates it in ages older than 70
The table overestimates the mortality for men, and slightly underestimates it for women
Globally, the life table overestimates the mortality
A new life table should be used in future assessments: 2008 ICSLT
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16. The 2008 ICSLT is the result of an Estat – JPAS common project
A new life table based on a large population of civil servants based in Europe
This table should be used in actuarial calculations related to the pension schemes of these civil servants
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17. The base population of the ICSLT
The base population concern 37 EU institutions and agencies, and 6 institutions from Co-ordinated organisations
together it comprise about individuals,
which are contributing members and beneficiaries
Figures available in the period 2004 to 2007 from these institutions have been merged
The computation takes account of the time exposed to risk in each year
The resulting total base population is individuals
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18. The base population of the ICSLT by age
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19. The base population of the ICSLT. Graph
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20. Observed mortality
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21. Observed mortality. Graph
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22. Extract of the 2008 ICSL
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23. 2008 ICSL. Mortality rates
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24. 2008 ICSL – 2004 EU Life table comparison
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25. Conclusions
The Working Group is asked to express its views on the issues discussed in this paper
Thank you for your attention
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