Effect of Turkish mortality developments on the expected lifetime and annuity using entropy measure

Date

2020-06-01

Author

Yıldırım Külekci, Bükre

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Over the past three centuries, there has been a steady and gradual decline in mortality rates due to a considerable process of eliminating hazards to survival, which have increased the life expectancy at birth remarkably. The improvements in mortality rates often been underestimated by annuity and pension providers. To measure the effect of mortality rate developments on life expectancy or annuity, many demographers use the idea of entropy. We use the entropy measure to explain the effect of any change in mortality rates on the annuity along with Gompertz's mathematical model for the force of mortality to obtain a more theoretically satisfactory conclusion. Entropy measures for the Turkish life table are calculated for different age, year, discount factor, and gender parameters.

Subject Keywords

Rectangularization, Pension funds, Mortality rate, Expected lifetime, Annuity, Entropy

URI

https://dergipark.org.tr/tr/pub/jssa/issue/55566/703986
https://hdl.handle.net/11511/81168

Journal

İstatistikçiler Dergisi: İstatistik ve Aktüerya

Collections

Graduate School of Applied Mathematics, Article

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Citation Formats

B. Yıldırım Külekci, “Effect of Turkish mortality developments on the expected lifetime and annuity using entropy measure,” İstatistikçiler Dergisi: İstatistik ve Aktüerya, pp. 30–47, 2020, Accessed: 00, 2021. [Online]. Available: https://dergipark.org.tr/tr/pub/jssa/issue/55566/703986.