South African Annuitant Standard Mortality Tables 1996-2000 (SAIML98 and SAIFL98)

Abstract

This paper describes the data and the processes used to produce the first standard tables of mortality of South African immediate annuitants. A parametric curve was fitted to the data from the normal retirement ages up to age 85. Below the normal retirement ages the rates increasingly reflected the impact of higher mortality due to ill-health retirements and so the curve was blended into that of the most recent standard table of life-assured mortality (SA85–90). Above age 85 the estimates were thought to be unreliable and the extrapolation of the curve fit to the younger ages did not allow for the expected fall in the rate of increase in the rates with age. Thus rates above this age were estimated using a relationship proposed by Coale and Kisker. It was not possible to produce select rates or to decide on a trend in these rates over time. Keywords : South Africa; annuitant; mortality; standard table South African Acturial Journal Vol. 7 2007: pp. 161-184