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The Actuary The magazine of the Institute & Faculty of Actuaries

CMI news

The CMI is pleased to announce the publication of Working Paper 25 – Stochastic projection methodologies: Lee-Carter model features, example results and implications.

This working paper provides an update on the work of the CMI’s Mortality Projections Working Party. Most of the paper is devoted to practical aspects relating to the use of Lee-Carter methodologies and sample results, but it also includes conclusions from the working party’s research into this area. This work is analogous to Working Paper 20 which considered P-Spline methodologies and was published in April 2006.

An updated version of the illustrative software was released alongside Working Paper 25 and sent to all registered users. The software is not commercial grade but is intended to allow users to experiment with selected mortality projection methodologies.

Working Paper 25 and more details on the software are available from the CMI’s section of the profession’s website under ‘Research and prizes’. The paper is not intended as a consultation document, but feedback is welcomed. Please email mortality@cmib.org.uk.