12-10-15, 09:25 PM
subbu: CHM's statistics are baffling. Is it that rate of mortality of pre-97 pensioners is higher than post-97 pensioners? I am not talking about the number, but the velocity and acceleration with which they approach Heaven to get speedy justice
CH MAHADEVAN writes:-
Obviously the mortality of the pre-August 1997 retirees is higher as currently the surviving pensioners will be in the range of 76 to 89 years ( including eligible pensioners from the erstwhile insurers ).
They are definitely a group of higher average age, as all of them have come under the LIC Pension Scheme at a time from 1/11/1993 after the notification issued on 28/6/1995.
The age span of post- July 1997 retirees is 63 to 78 yrs (reckoning retirements upto 31/7/2012). Definitely, the mortality of the latter group will not only be lower due to lower ages compared to the former, but also the mortality trend will be more stable as these retirees enter the scheme from the date of retirement