Pension schemes up life expectancy assumptions

The consultant's valuations survey found the median life span assumed for active and deferred members is expected to be 89 years and one month. Valuations a year ago used 88 years and two months. The survey of 196 schemes was carried out on schemes with valuation dates effective around December 2007 and March/ April 2008. However, Mercer says many of these valuations had not been completed and in these cases the survey was based on the scheme actuary's expectation of the final outcome. "Trustees continue to fund their plans assuming greater life expectancy for their members," Mercer v...