Old age pension (OAP) An insurance where the insured participant (main insured person) receives periodic benefit payments after reaching the retirement age for as long as that person lives. Period life expectancy Life expectancy based on a period life table. Period life table Mortality table based on actual mortality rates from one or more observation years. AG bases its period life tables on actual mortality in the five most recent completed calendar years. A period life table does not allow for mortality developments and thereby assumes constant mortality probabilities in future years. Projection period The number of years for which –within the model- mortality figures are stated. Projections life table Mortality table in which mortality rates are given for each future year. This provides a mortality probability for each combination of age and observation year. This offers the possibility to calculate a remaining life expectancy for every age and every (future) starting year. Statline Statline is the public database of Statistics Netherlands (CBS). It provides statistics on economics, the Dutch population and our society. Stochastic model Model in which future mortality probabilities are not fixed, but are defined by means of probability distributions. Stochastic projections life table Projections life table that results from using a stochastic model and hence assumes different values in different realisations of the random variables (as can be seen in the simulations). Projection Table AG2018 Appendix D 52
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