Measurement of Longevity Risk of Life Annuity Based on C-ROSS Framework

Table 1

The first type of longevity risk measure for the pension of 60-year-olds.

	Male			Female
	2.50%	3.50%	4.50%	2.50%	3.50%	4.50%
Annuity factor	17.2	15.5	14.1	19.2	17.1	15.4
LRM (99% high)	−3.5%	−3.3%	−3.1%	−1.2%	−1.2%	−1.2%
LRM (optimal estimate)	9.0%	7.7%	6.6%	7.9%	6.7%	5.7%
LRM (99% low)	20.9%	17.9%	15.4%	15.9%	13.6%	11.6%