Dear Actuary: What are demographic and longevity risks?
A primer for plan sponsors on demographic and longevity risks and how they affect public pensions.
Cash Flow and Unpaid Claim Runoff Estimates Using Mack and Merz-Wüthrich Models
This paper focuses on the closed form model developed by Mack, modified by Merz and Wüthrich to address the one-year horizon under Solvency II, and on its extension for two-year, three-year, etc. time windows that can be reconciled back to the original Mack formulas.