PUBLICATION REPORTS
Welcome to the Publications Report Page!
This page is your gateway to research and publications created by members and committees of the Caribbean Actuarial Association.
Pensions Committee
Caribbean Pension Mortality Study Report
The Society of Actuaries and the Caribbean Actuarial Association carried out this joint initiative in order to provide further research on the mortality experience of the Caribbean. The Society of Actuaries carried out the technical analysis of the data that was provided by the Caribbean Actuarial Association. The Caribbean Actuarial Association also reviewed the report and provided input into the final results and analyses presented.
Social Security Committee
Trinidad and Tobago NIS Annuitant Mortality Tables
This research paper, prepared by KR Services Limited, analyses the mortality experience of annuitants and pensioners in Trinidad and Tobago (T&T) using National Insurance System (NIS) data from 2011 to 2013. The study found that observed mortality rates, especially for males, were significantly higher than those predicted by commonly used North American tables (GAM-94/GAM-94AA).
In response, KR Services developed the NISTT2012 mortality table to better reflect the local experience. The paper outlines the construction of this new table, suggests applying annual mortality improvement rates of 0.5%–0.75%, and highlights its implications for more accurate pension and insurance valuations.
The adoption of NISTT2012 is expected to lower actuarial reserves, particularly for male annuitants and life insurance companies operating in Trinidad and Tobago.
The tables (NIS mortality Qx Table.xlsx) and the research paper (NISTT2012) are publicly available.
Technical Steering Committee
Application of Actuarial Techniques in Sustainability Reporting
Actuarial techniques are increasingly being applied to sustainability reporting, especially in non-traditional areas and developing markets. The presentation by Kyle Rudden and Stokeley Smart at JoCo 2025 in São Paulo highlights real-world examples, such as energy policy in Trinidad and Tobago and sustainable education funding models, where actuarial skills bring new insights and solutions.
These innovative applications demonstrate how actuaries can help organisations and governments make more informed, resilient decisions for the future.
The Smart Tables
The Smart Tables Team (STT) has developed a framework for actuarial loss of earnings tables which is expected to provide significant improvement in the calculation and assessment of damages for cases involving bodily injury and death.
In several developed countries, it is common for payments on disability or death to be determined by reference to actuarially based tables, such as the Ogden Tables in the UK. In most developing countries, this is not the case. Awards are often arbitrary and are not based on factors such as actuarial expectations of life.
The Smart Tables are based on the principles behind the UK Ogden Tables, but use indigenous demographic and economic assumptions. Population mortality tables for Trinidad and Tobago and Jamaica as well as an employed persons mortality for Trinidad were used for the indigenous mortality inputs for the cases in the Caribbean. These tables were created by a team led by CAA member Stokeley Smart, Senior Lecturer/Subject Leader in Actuarial Science at University of the West Indies, St Augustine Campus.
The CAA provided financial support for this project.
STT Presentation: International Congress of Actuaries, Sydney 2023
Caribbean 2002 - 2007 International Experience Study Report
The Caribbean Experience Study was undertaken as a joint research venture between the Caribbean Actuarial Association and the Society of Actuaries (SOA) International Experience Study (IES). The study was published in September 2014 and includes both mortality and persistency studies of policies in force any time during the 2002-2007 study period.
Guidance:
This is a non-mandatory resource and imposes no obligation on members.
The Caribbean Actuarial Association cannot be held liable in any way for the use or misuse of the guidance material.