Why Club Vita?

​Longevity remains the biggest unmanaged risk for defined benefit (DB) schemes. As pension schemes mature, longevity deserves a proactive plan for its management, avoiding future regret on funding, on investment strategy and on risk transfer.

Ten reasons why

Here are ten ways that Club Vita can help you manage the uncertainty of future longevity:

1. 

Use our analytics to take control of longevity as a proactively managed risk, rather than an actuarial assumption.

2. 

Take more confident, data-driven decisions using our unrivalled dataset, which captures the diversity in over 220 UK DB schemes and includes records for 1 in 4 DB pensioners across all industries.

3. 

Improve the quality of your administration records through our annual VitaCleansing, getting you fit for any future de-risking transaction. In the last year, our processes have identified almost 800 pensioners aged 85+ who we believe have passed away, with annual pensions totalling £3.5m.

4. 

Shrink your deficit by removing hidden margins of caution. Our analysis of new joiners to Club Vita reveals an average reduction in the value placed on liabilities of 1% from adopting our VitaCurves model.

5. 

Align your ‘baseline’ assumptions through our best-in-class postcode longevity model, used by 7 out of 10 longevity reinsurers. This lets you focus your scarce time on the more important issue of longevity trends.

6. 

Club together with other leading schemes to clearly see the signals emerge from recent longevity trends, rather than the statistical noise.

7. 

Avoid the risk of one-size-fits-all assumptions for longevity trends, quantifying the prudence in your actuary’s recommended longevity assumptions using our range of forward-looking health scenarios.

8. 

Make innovation happen. Thanks to improvements in data and modelling, through VitaHedge we can now provide an indicative price for longevity hedging, enabling you to understand the insurance market’s current longevity risk premium. 

9. 

Equip your advisors with relevant data-based insights, to help them deliver the best advice, and you to take more confident data-driven decisions.

10. 

Above all, benefit from being part of a community of like-minded organisations with a shared common interest in longevity: improving the security of members’ benefits.

“Aviva’s staff pension scheme is proud to have been amongst the founding members of Club Vita. Its fresh insights have grown Aviva’s confidence in navigating a path through the diversity and uncertainty of longevity patterns.”
John Lister, former Chief Financial Officer of Aviva UK

Want to know more?

Find out more about how you can benefit from annual data cleansing, benchmarking of your scheme and longevity assumptions for every individual in it.

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