Public vs Private: is there a sector effect in post-retirement mortality?

Event information

3 June 2020

This is a video recording of a webinar we held in June 2020

There have been many studies examining differences in average life expectancy between public and private sector pension plans. With significant differences in longevity experience between individual plans, we find the magnitude and direction of observed ‘sector effects’ greatly depend on the specific plans contributing to the data in these studies. What’s more, a one-size-fits-all approach to mortality assumptions does not capture the diversity present in either sector.

In new research available for download here we analyze Club Vita’s UK and Canadian data sets in search of evidence of a distinct public/private sector effect on longevity. We find that other readily available factors, such as address, pension amount and type of work, are far better at predicting differences in life spans. And, once we control for such factors, there is virtually no difference between public sector and private sector plan members.

In this webinar we will present the results of this analysis and examine a specific case sturdy for the OPSEU Pension Plan, a large Canadian public sector pension plan.

Chair: Erik Pickett – Head of Product, Club Vita

Julie Belair – Vice President, Actuarial Services and Plan Policy, OPTrust Steven Baxter – Head of Innovation and Development, Club Vita Richard Brown – Chief Operating Officer, Club Vita Canada

Public vs Private: is there a sector effect in post-retirement mortality?