惠悅國際-人力資源咨詢報告(編輯修改稿)
2025-01-19 22:18 本頁面
【文章內(nèi)容簡介】 Supplier view of mortality guarantees ? Mortality improving ? How fast 1% pa? 2% pa? 3% pa? ? In future? ? Scope to review? ? Guarantees are (too) expensive? Mortality drift uncertain future improvements Maci ntosh PIC Timag e for matis no t sup port edBoth charts show expected distribution of deaths for male aged 60 in 1992, allowing for future improvements. PMA92 represents the more recent estimate Crosssubsidy operates across either distribution, and longevity protection is largely retained even if mortality is reviewed Drift in anticipated distribution allowing for newer evidence 169。 Watson Wyatt Partners 2023 Excess survivors PMA92 pared with PMA80 Maci ntosh PIC Timag e for matis no t sup port edCost to annuity provider of not reviewing mortality relates to payments made to those survivors who were not expected to live so long the red zone 169。 Watson Wyatt Partners 2023 New model Investment fund + Insurance against survival Lifetime ine model benefit statement Units Unit Price Value 163。 163。 Start of Year 10,000 100,000 Annuity Payments (975) (10,000) Survival Bonus 295 3,000 Effect of Changes in Unit Price 4,860 End of Year 9,320 97,860 Target Ine for Next Year 10,000 169。 Watson Wyatt Partners 2023 Equivalent additional fund growth resulting from mortality crosssubsidy Maci ntosh PIC Timag e for matis no t sup port edMortality: PMA92/PFA92 Calendar Year 2023 169。 Watson Wyatt Partners 2023 Equivalent additional fund growth M F % pa % pa 75 85 95 NB: Partial survival protection possible Flexible annuity review cycle Initial max/min ine calc39。d Annuitant selects ine between max and min to next review Payments deducted according to annuitant requirements/survival credits/investment returns added Fund balance determined at review Max/min ine to next review calc39。d 169。 Watson Wyatt Partners 2023 Flexible ine The c
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