Commenting on the CMI’s Mortality Monitor Q3 2019

Following the publication of the CMI’s Q3 mortality monitor, Conor O’Reilly, Head of Analytics at Club Vita commented on the likely impact on liabilities for pension schemes.


"The latest data on deaths in England & Wales has seen a continuation of the trend seen over the first half of 2019, with Q3 2019 seeing lighter mortality rates than the average over the previous decade. With only three months of the year remaining, it is looking increasingly likely that 2019 will see the lowest total deaths since 2014. Coming on the back of several years of relatively heavy mortality, this is welcome news. However, what may be less welcome is the likely impact on liabilities – schemes adopting the latest CMI model could see their liabilities increasing by upwards of 1% as a result of this experience. We will be watching with interest to see whether this is the start of another period of strong improvements in mortality rates, as seen over the 2000s, or simply further volatility, as seen more recently."

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