Society of Actuaries Research Institute Launches International Longevity Illustrator for Singapore, Hong Kong and Canada
Schaumburg, IL, and Hong Kong, July 17, 2023 – The Society of Actuaries (SOA) Research Institute announced the International Longevity Illustrator, a free tool to help individuals and couples in Singapore, Hong Kong and Canada estimate how long they may live so they can plan a more secure retirement.
To use the International Longevity Illustrator, an individual or a couple enters basic information about themselves, such as their age, sex and general health status, and the tool generates easy-to-read charts showing the likelihood of living to certain ages. For example, a couple can determine the chance of living a given number of years together as well as the likelihood that one or the other will survive additional years.
“It is important to look at a variety of possibilities when preparing for retirement, including longevity,” said Lisa Schilling, FSA, EA, FCA, MAAA, senior retirement research actuary, SOA Research Institute. “With a few simple steps, this web-based tool provides information to help individuals and couples plan a secure retirement more effectively.”
Since longevity varies across countries, projections are based on mortality and longevity data that is specific to the country where the individual user lives. The International Longevity Illustrator does not provide financial advice; however, the results can be useful for individuals or couples to understand their financial needs in retirement. Access the tool at ili.soa.org.
About The SOA
With roots dating back to 1889, the Society of Actuaries (SOA) is the world’s largest actuarial professional organization with more than 32,000 actuaries as members. Through research and education, the SOA’s mission is to advance actuarial knowledge and enhance actuaries’ ability to provide expert advice and relevant solutions for financial, business and societal challenges. The SOA’s vision is for actuaries to be the leading professionals in measuring and managing risk. To learn more, visit soa.org.
About the SOA Research Institute
Serving as the research arm of the SOA, the SOA Research Institute provides objective, data-driven research bringing together tried and true practices and future-focused approaches to address societal challenges and business needs. It provides trusted knowledge, extensive experience and new technologies to help effectively identify, predict and manage risks. Find out more at soa.org/research-institute/.