How to project trends in mortality after Covid-19: the CMI consultation

On 21 September the Continuous Mortality Investigation (CMI) published a consultation on a modification to its mortality projections model to allow for the effect of the Covid-19 pandemic. All sounds very technical, so what does it mean for Defined Benefit (DB) pension schemes?

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DB pension schemes in the UK use the CMI model to make assumptions about how life expectancy will change in the future. This affects all aspects of pension scheme funding, including funding valuations, company accounting disclosures and transfer values for members. A change to the model could mean deficits growing or shrinking, and good or bad news for members transferring their pension to another scheme. Understanding how the model may change is key for trustees and sponsors to anticipate upcoming shocks to their scheme’s financial position.

You can read the full blog here.

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Barnett Waddingham

Barnett Waddingham is proud to be a leading independent UK professional services consultancy at the forefront of risk, pensions, investment and insurance. From small beginnings with just 20 people, we’re now a team of over 1,280 people in eight offices. 73 are partners, each delivering on our values and our promise, ensuring the highest levels of trust, integrity and quality. Everything we stand for at Barnett Waddingham is embedded in our promise – to do the right thing. We’ve applied this meaningful principle across all aspects of our business with continued success. Our continued and long-term commitment to delivering value is our promise to all our people and clients.
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