Why Club Vita?

Longevity remains the biggest unmanaged risk for defined benefit (DB) pension plans. As plans mature, longevity deserves a proactive plan for its management, avoiding future regret on funding, on investment strategy and on risk transfer.

Our story

The Club Vita story started in 2008, with the creation of the UK-based Club Vita LLP. It was launched by Hymans Robertson LLP to fill an essential gap in the UK pension industry – namely, the need for better understanding and management of longevity risk.

As a longevity centre of excellence, Club Vita’s mission is to connect a community of pension plans to analyze data and gain insights not possible individually. As the only company dedicated to providing longevity services to occupational pension plans in the UK, Club Vita LLP currently covers approximately 220 member pension plans — 2.7million pensioners which is about 1 in 4 pensioners from DB pension plans, or 1 in 7 of UK’s retired population.

An extension of the successful UK Club Vita brand, Club Vita Canada brings ground-breaking longevity data processes, research, analysis, and services to the Canadian pension industry. It leverages its UK counterpart’s established knowledge and expertise to give Canadian pension plans access to leading-edge longevity analytics services. As in the UK, Club Vita Canada looks for opportunities to offer longevity risk thought leadership through independent and joint research initiatives.

Club Vita Canada’s vision is to be the driving force behind the mainstream adoption of advanced longevity analytics and measurement in Canada. Club Vita Canada is also committed to becoming the leader in the development of tools, techniques, and markets for the efficient and effective management of Canadian longevity exposures and risk.

Club Vita Canada Inc. was created by Eckler Ltd., a leading independent Canadian actuarial consulting firm. Both Eckler Ltd. and Hymans Robertson LLP are members of the Abelica Global network of independent consulting firms, and have a strong history of successful collaboration.

How it works

Club Vita uses sophisticated tools and processes — designed, tested and endorsed by leading actuaries and academics — to demystify the factors and predictors that drive longevity. The resulting plan-specific analytics will equip you and your advisors to truly understand and manage your plan’s longevity risk — whether you’re interested in measuring longevity exposure better, projecting future pension payments, assessing risk-transfer, or expanding your de-risking strategies.

  • Understand your demographic DNA

    By drilling deeply into your data and analyzing it at an individual level, you’ll be able to map your plan’s demographic DNA — that is, the unique membership traits that define your plan’s longevity characteristics.

  • The strongest predictors

    Club Vita’s unique approach looks well beyond traditional factors to determine the strongest underlying predictors of longevity. For example, we consider often neglected but essential influences like lifestyle and affluence.

  • Accuracy in cleanliness

    Quality in, quality out. As an added benefit, we will help you clean your data — and confirm how reliable, historically accurate and complete it really is.

  • Safe and secure

    We know that data security is critical. So we’ve adopted rigorous controls and procedures for the transfer, processing, use, and housing of all information provided by member pension plans.

The process

Club Vita Canada brings together a community of pension plans — the Club Members — whose longevity data is pooled together. Our five-step process uses this exceptionally rich dataset to perform longevity analysis and gain insights not possible by individual plans.

  1. We securely collect updated longevity experience data from all Club Members each and every year.
  2. We assess and enhance data quality and reliability through an exhaustive series of validations and data-cleaning procedures.
  3. Each Club Member receives a personalized VitaCleansing report, which documents the results of our data processes, reports plan membership data characteristics, and presents a comparison to other Club Members.
  4. To determine the most significant drivers of Canadian pensioner longevity, we explore a wide range of potential predictors. This is done by connecting to a number of external data sources, and by performing advanced statistical modeling and analysis. Each Club Member receives a personalized VitaIndex report, which documents the results of our analysis for the Club’s entire dataset and relates the findings to each Club Member’s plan(s) based on their unique membership characteristics.
  5. Based on the analysis, the final step is to furnish each Club Member with the Club Vita mortality assumptions (VitaCurves) applicable to their plan. The resulting plan-specific analytics will equip you and your advisors to truly understand and manage your plan’s longevity risk.