Longevity is the biggest unmanaged risk your pension scheme faces, and we can provide you with everything you need to get it under control. We’ll help you understand the unique characteristics of your scheme and appreciate the consequences of how they’re likely to change over time.
Understand your demographic DNA
No two pension schemes are alike, so if anyone tells you they can predict the longevity characteristics of your scheme by simply looking at your scheme members’ addresses, here’s a word of warning. Only by drilling right down into your data and analysing it at an individual level is it possible to discover the different types of demographic DNA that make up your scheme.That's how we provide you and your scheme actuary with longevity assumptions that are tailored to each member of your scheme.
And when you consider the financial consequences of getting your predictions wrong, even by a fraction of one percent, our services represent extraordinary value for money.
Things change
Our annual longevity monitoring service will keep you up-to-date with the longevity of your members, how many are living longer than expected, and how this impacts your funding position.
We’ll also show you how the profile of your scheme is likely to change in the future. After all, your future pensioners may have very different longevity characteristics to your current ones. Club Vita will keep you on track and help you make the right decisions.
Cleanliness is next to accuracy
There’s one further benefit to Club Vita: we will help you clean up your data. It’s a process that will tell you how reliable, historically accurate and complete your data is. For example, you’ll know if you’re paying pensions to deceased members.