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Overview

This module takes input aggregate mortality scenarios, functional disability/health status scenarios, economic scenarios to simulate cash flows on retirement products.

Retirement products include:

  • Account-based pensions
  • Life annuities
  • Deferred life annuities
  • Pooled annuities
  • Long-term care insurance
  • Care annuities
  • Variable annuities with GMWB
  • Reverse mortgages with NNEG

Risk-adjusted expected cash flows are computed, and prices are determined based on relevant assumptions. Models use Australian data for Australian applications. The module includes government age pension and aged care based on current means-testing.