A scheme vulnerability analysis tool aiming to allow pension schemes to understand the likely impact of Covid-19 on their members’ life expectancy has been launched by XPS Pension Group.
With around 53,000 deaths since the start of the pandemic expected to list Covid-19 as the reason, XPS' tool uses a database compiled from public sources to categories members by postcode and provide assumptions on vulnerability to Covid-19, as well as the associated scam risk. The database already provided a way to analyse relative wealth, health and mortality, financial dependents and age difference, and methods to engage with members. XPS said it allows trustees to better understand their demographic characteristics and therefore their scheme liabilities. The idea of the tool is to...
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