Отказ от учета пола в пенсионных расчетах приведет к ошибкам на сотни миллионов долларов

Gender is a vital piece of information when measuring pension plan longevity risk, according to a new report by the OPSEU Pension Trust, Eckler Ltd. and Club Vita. The report analyzed Club Vita’s Canadian pension plan dataset and established multi-factor modelling techniques to develop gender-neutral mortality tables, which were compared against standard gender-specific mortality tables to evaluate the differences in capturing individual plan mortality experience and the resulting funding implications. Read: What’s the impact of gender identity in determining longevity risk? It found the removal of gender data significantly increased longevity measurement risk, as gender-neutral models are less predictive of pension plan mortality experience and can lead to material inaccuracies in the calculation of required funding. “In our analysis, gender-neutral models resulted in absolute liability changes ranging from approximately [zero per cent] to six per cent for most plans,” said the report. “For the [OPTrust] pension plan specifically, without gender data, they would have understated total liabilities by about [one per cent], approximately $270 million.” The removal of gender data also increases risk and reduces benefit security for pension beneficiaries. With less accuracy in the calculations of liabilities, defined benefit pension plans across Canada would be exposed to a much greater risk of underfunding, the report noted. It also found other demographic factors can only partially offset the loss of gender data. While variables such as occupation and postal code can help to differentiate longevity patterns when gender is unavailable, these metrics don’t fully compensate for the loss of gender data. Read: Sounding Board: Shifting from retirement planning to longevity planning