1 PREFACE For decades, life expectancy has increased steadily in the Netherlands as well as in the neighbouring countries. This trend has had a large impact on society. It is important for pension funds and life insurers to understand the development of life expectancy in order to be able to estimate future cashflows and thus to set provisions. Every two years The Royal Dutch Actuarial Association (Koninklijk Actuarieel Genootschap or ‘AG’) publishes a new Projections Life table, providing an insight into the expected development of life expectancy in The Netherlands, based on the most recent information at the time. Before you is the publication of the new Projections Life Table AG2020. The underlying model is a fully transparent model with a limited number of parameters, making it easy to explain and exactly reproducible. This complies with AG’s aim to make knowledge available to and applicable by the financial sector. Since the publication of AG2018 various analyses have been conducted that have led to further improvements of the model. The changes from AG2018 will be explained both substantively and numerically. The impact of Covid-19 on life expectancy is as yet hard to predict because of the limited availability of data and the uncertainty in how the pandemic will develop in the future. Therefore, only a number of sensibility analyses have been carried out. I want to thank the members of AG Mortality Research Committee (Commissie Sterfte Onderzoek or ‘CSO’) and the Projections Life Tables Working Group for their efforts and all the work that they have done over the past two years. Wies de Boer AAG Chair AG Mortality Research Committee Projections Life Table AG2020 Preface 5
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