Pensions and Retirement Training Course on Mortality Tables in Valuations

Module 1: Introduction to Mortality Tables in Pension Valuations
Definition and purpose of mortality tables
Role of mortality assumptions in pension liabilities and funding
Overview of commonly used mortality tables (public, private, industry-specific)
Case study: Impact of mortality assumptions on plan valuation
Group discussion: Challenges in applying mortality data

Module 2: Types of Mortality Tables
Standard mortality tables vs. custom tables
Experience-based vs. projected tables
Generational and static mortality tables
Advantages and limitations of each type
Exercise: Selecting an appropriate mortality table for a sample plan
Discussion: Industry best practices in mortality table selection

Module 3: Demographic Data Analysis
Collecting and validating plan member data
Adjusting for age, gender, occupation, and other demographic factors
Analyzing historical mortality experience
Workshop: Creating a demographic profile for a pension plan
Case study: Using demographic data to improve mortality assumptions

Module 4: Application of Mortality Tables in DB Plan Valuations
Calculating present value of future benefits
Determining accrued liabilities and normal cost
Incorporating mortality tables into actuarial valuation software
Practical exercise: Valuing a sample DB plan using mortality tables
Discussion: Common challenges and solutions in DB plan valuation

Module 5: Application in DC Plans and Hybrid Plans
Mortality assumptions for annuitization options
Impact on member communications and retirement projections
Adjusting assumptions for partial guarantees or hybrid arrangements
Exercise: Estimating longevity risk in DC plan projections
Case study: Mortality assumptions in hybrid plan valuations

Module 6: Sensitivity Analysis and Scenario Testing
Evaluating impact of changes in mortality assumptions
Stress testing for longevity improvements or shocks
Scenario analysis for different population subsets
Workshop: Conducting sensitivity analysis for a sample pension plan
Discussion: Communicating results and implications to stakeholders

Module 7: Regulatory and Accounting Considerations
IFRS, IPSAS, and local requirements for mortality assumptions
Reporting mortality assumptions in financial statements and actuarial reports
Compliance with regulatory review and audit standards
Exercise: Preparing a regulatory-compliant mortality report
Case study: Lessons from regulatory audits of mortality assumptions

Module 8: Longevity Trends and Emerging Issues
Impact of increasing life expectancy on pension funding
Mortality improvements and generational projections
Incorporating longevity trends into plan design and funding
Workshop: Adjusting mortality assumptions for future trends
Discussion: Best practices in managing longevity risk

Module 9: Communication and Stakeholder Engagement
Explaining mortality assumptions and their impact to trustees, regulators, and plan members
Using visualizations to show liability changes due to mortality assumptions
Preparing executive summaries and board presentations
Group exercise: Presenting mortality analysis to a pension board
Case study: Effective communication of mortality and longevity assumptions

Module 10: Case Studies and Practical Applications
Real-world examples of pension valuations using mortality tables
Group simulation: Performing a full valuation incorporating mortality assumptions
Lessons learned and industry best practices
Developing actionable recommendations for plan management and risk mitigation
Final discussion, review, and certification