MorganAsh

A small sample size of 28% of members was selected and from these, 61% of members participated. This resulted in 75% of the liabilities being assessed.

The results led to changes to the assumptions on mortality. The information on marital status alone led to a material difference in mortality assumptions. Life expectancy was shown to be 1.6 years less than SAPS S1PA tables, which resulted in a reduction to the pension deficit of pensioners alone of £1.2m. When this was adjusted for the whole scheme, the reduction in pension deficit was £2.4m. As a result of the PLUS project the scheme actuary changed the mortality assumption.

Our clients say:

We have a significant proportion of our enhanced annuity applications which are poorly completed or indeed incomplete. This could result in our not being able to offer the best possible terms. The customer journey to us is very important and the applications received from MorganAsh make it a one-stop journey. It helps us to maximise the potential income we can offer to our customers and avoids us having to go back to the customer for further information.

Richard Helyer, chief underwriter and claims manager, Canada life, UK