Technical Standards for Determining Necessary Technical Capital and Generation of Mortality Tables

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

THE COMMITTEE OF STANDARDS OF THE CENTRAL BANK OF RESERVE OF EL SALVADOR,

CONSIDERING:

I. That by Legislative Decree No. 787, dated September 28, 2017, published in Official Diary No. 180, Volume No. 416 of the same date, the Reform to the Law of the Pension Savings System was approved.

II. That article 87 of the Reform to the Law of the Pension Savings System cited in the previous consideration, establishes that the Central Bank of Reserve of El Salvador must elaborate or update the relevant Technical Standards for the application of what is provided in the aforementioned Legislative Decree, no later than one hundred and eighty days counted from the validity of the same.

III. That article 119 of the Law of the Pension Savings System, establishes that the necessary technical capital will be determined with the expected present value of the reference pensions of the originator and their beneficiaries from the date on which the second disability assessment is executed or the death occurs, and until the extinction of the pension right of each of the accredited beneficiaries.

THEREFORE,

in virtue of the normative powers conferred by article 99 of the Law of Supervision and Regulation of the Financial System,

AGREES, to issue the following:

NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES

CHAPTER I
OBJECT, SUBJECTS AND TERMS

Object

Art. 1.- These Standards have as their objective to establish the technical specifications, including variables, formulas and tables to be used for the calculation of the necessary technical capital for the affiliate and their group of beneficiaries.

Subjects

Art. 2.- The subjects obliged to comply with these Standards are the Pension Fund Administrators (AFP).

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

Terms

Art. 3.- For the purposes of these technical standards, the terms indicated below have the following meaning:

a) AFP: Pension Fund Administrators; b) Central Bank: Central Bank of Reserve of El Salvador; c) CIAP: Individual Savings Account for Pensions; d) CTN: Necessary technical capital, which is the expected present value of the reference pensions of the originator and their beneficiaries from the date on which the second disability assessment is executed or the death occurs, and until the extinction of the pension right of the affiliate and each of the accredited beneficiaries; e) ctn: Necessary technical capital to finance a pension unit; f) Reference pension of the affiliate: That determined as a percentage of the Regulator Basic Salary applicable for any time of service that the affiliate may have provided; g) Reference pension of the beneficiaries: That obtained by multiplying the reference pension of the originator, by the percentage corresponding to each beneficiary; h) Regulator Basic Salary: The monthly average of the Contribution Base Income calculated in accordance with the Law of the Pension Savings System; i) SAP Law: Law of the Pension Savings System; and j) Superintendency: Superintendency of the Financial System.

CHAPTER II
CALCULATION OF NECESSARY TECHNICAL CAPITAL

Designations

Art. 4.- The AFP, for the purposes of calculating CTN and ctn, will use the following designations:

x: Age of the pension originator; y: Age of the spouse, partner, father and mother of the originator; z: Maximum age limit for normal children with pension rights, i.e., 24 years; h: Age of the child; hm: Age of the youngest child; hi: Age of the disabled child; Dx: Represents the present value of one monetary unit for each of the ages of the originator; Nx: Represents the total present value of one monetary unit for all Dx; Dxy: Represents the present value of one monetary unit for each of the ages of the originator given the probability that the respective beneficiary survives, in the case of beneficiaries, they will be represented by the subscripts y, z, hm, hi; Nxy: Represents the total present value of one monetary unit for all Dxy; CTN: Necessary Technical Capital; ctn: Necessary technical capital to finance a pension unit;

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

v^x: Update factor; i: Annual interest rate, used to establish commuted values in tables; SBR: Regulator Basic Salary; and lx, ly: Number of people alive at a given age.

Equalities

Art. 5.- The AFP for the purposes of calculating CTN and ctn will use the following equalities:

Dx = v^x . lx [1]
Nx = ΣDx [2]
Dxy = v^x . lx . ly [3]
Nxy = ΣDxy [4] v^x = 1 / (1+i)^x [5]

Determination of Necessary Technical Capital per pension unit

Art. 6.- The AFP for the determination of the ctn formulas will use actuarial theory through the development of actuarial functions and commuted values, which allow, from the mortality table and an interest rate, to determine the present value of future benefits in a fast and effective manner.

Art. 7.- The AFP must establish the ctn factor according to the characteristics of the pension originator according to the different calculation formulas described below:

1. Pension originator due to permanent disability.
   ctn = (Nx - N24) / Dx [6]

2. The spouse, partner, when there are no non-disabled children with pension rights or there is one or more disabled children, or father and mother of a pensioner due to permanent disability.
   ctn = (Ny - N24) / Dy - (Nxy - N24) / Dxy [7]

3. The spouse, partner, with children with pension rights, when it comes to disability pensions. Provided that there are no disabled children within the group of beneficiaries.

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

4. Non-disabled child of the originator, with pension rights (yes and only if: z – h > 0), when it comes to disability pensions.
   ctn = [ (Nx - Nh) - (Nz - Nh) ] / Dx - [ (Nx - Nz) - (Nh - Nh) ] / Dx [9]

5. Disabled child of the originator, with pension rights, when it comes to disability pensions.
   ctn = (Nhi - N24) / Dhi - (Nxhi - N24) / Dxhi [10]

6. Spouse or partner of a deceased affiliate, when there are no children with pension rights, or the children are disabled, or for the father and mother of a deceased affiliate.
   ctn = (Ny - N24) / Dy [11]

7. Spouse or partner of a deceased affiliate, when there are no disabled children and there are children with pension rights.
   ctn = [ (Dy / Dy) - (N24 - N(y+z-hm)) / Dy ] + 0.20 [ (Dy / Dy) - (N24 - N(y+z-hm)) / Dy ] [12]

8. Non-disabled children of a deceased affiliate.
   ctn = (Dh / Dh) - (N(y+z-hz) - N(y+h-hz)) / Dy [13]

9. Disabled children, father or mother of a deceased affiliate.
   ctn = [ (Dy / Dy) - (N24 - N(y+z-hm)) / Dy ] + 0.20 [ (Dy / Dy) - (N24 - N(y+z-hm)) / Dy ] + [ (Dxy / Dxy) - (N24 - N(xz-hm)) / Dxy ] + [ (Dxy / Dxy) - (N24 - N(xz-hm)) / Dxy ] + [ (Dxy / Dxy) - (N24 - N(xz-hm)) / Dxy ] [8]

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

ctn = (Nhi - N24) / Dhi [14]

When calculating the ctn, it must be done with eight digits of approximation.

Determination of Necessary Technical Capital

Art. 8.- The AFP to determine the CTN required to finance a pension, will apply the following formula:

a) If the reference pension is greater than or equal to the current minimum pension: (3) CTN = ctn x 12.5 x reference pension [15] (2)

b) If the reference pension is less than the current minimum pension: (3) CTN = ctn x 12.5 x current minimum pension [15 A] (3)

To determine the total CTN, it is necessary to add the CTN of the affiliate and that of each of their beneficiaries. When it comes to survivorship pensions, the total CTN will be the sum of the CTN of each of the beneficiaries.

Reference Pensions

Art. 9.- For the calculation of the CTN, the reference pension of the originator for the payment of disability pensions, as well as the reference pensions of the beneficiaries of survivorship pension, will be determined in accordance with what is established in articles 120 and 121 of the SAP Law. For the calculation of the reference pensions of the affiliate or originator, the provisions relative to the final clause of article 120 of the SAP Law must be applied, which establishes that when the resulting calculation of the reference pensions is lower than the value of the current minimum pensions for disability or survivorship, these must be adjusted to said minimum amounts. (2)

CHAPTER III
GENERATION OF MORTALITY TABLES AND APPLICABLE INTEREST RATE

Generation of mortality tables

Art. 10.- The formulas to determine the ctn have been expressed in terms of commuted functions, being necessary the use of analytical functions that allow generating the mortality tables. These analytical functions are presented in terms of qx which corresponds to the probability that a person of age x dies within one year, i.e.:
qx = (lx - lx+1) / lx => qx = dx / lx [16]

The mathematical function used to generate the qx values in mortality tables is expressed as follows:
qx = 1 - (g * (c - 1)^x) [17]

For all tables when the age is 110 years, qx will be equal to 1.
Annex No. 1 of these Standards contains the necessary parameters for the generation of the mortality tables.

Applicable Interest Rate

Art. 11.- The applicable interest rate that will be used for the generation of the mortality tables will be 4%, tables corresponding to Annex No. 2 of these Standards. This rate will be reviewed with a periodicity of every three (3) years by the Committee of Standards of the Central Bank, in accordance with the average profitability of the Pension Funds.

CHAPTER IV
OTHER PROVISIONS AND VALIDITY

Sanctions

Art. 12.- Non-compliance with the provisions contained in these Standards will be sanctioned in accordance with what is established in the Law of Supervision and Regulation of the Financial System.

Repeal

Art. 13.- These Standards repeal the SAP Instruction No. 29/98 for the “Determination of Necessary Technical Capital and Generation of Mortality Tables” approved by Resolution No. A-DO-AF-052/98 of June 10, 1998 and Resolution A-AF-DO-485/99 of November 4, 1999 which substituted the RVHES table annexed to SAP Instruction No. 29/98, both issued by the Superintendency of Pensions whose Organic Law was repealed by Legislative Decree number 592 containing the Law of Supervision and Regulation of the Financial System, published in Official Diary number 23, Volume 390 dated February 2, 2011.

Art. 14.- These Standards render ineffective from the entry into force of these “Resolution on the establishment of the technical interest rate for the calculation of necessary technical capital” issued in resolution number 14, of the Board of Directors Session of the Superintendency of the Financial System No. CD-54/2017, dated December 12, 2017.

Transitional for affiliates with requirements met to access old-age benefits prior to the validity of Legislative Decree No. 787

Art. 14-A.- For those affiliates who at the entry into force of Legislative Decree No. 787, that is, on October 6, 2017, had met the requirements to access an old-age pension and had not exercised their right and opt for their benefit calculations to be made with the methodology in force at the date of meeting the requirements according to what is established in the “Technical Standards for the Granting of Old-Age Benefits in the Pension Savings System” (NSP-06), for the purposes of establishing the amount of their pension, the ctn must be calculated in accordance with what is established in Annex No. 3 of these Standards. (1)

The Unforeseen

Art. 15.- Aspects not foreseen in regulatory matters in these Standards will be resolved by the Central Bank through its Committee of Standards.

Validity

Art. 16.- These Standards will enter into force from February 9, 2018.

MODIFICATIONS:

(1) Modifications approved by the Committee of Standards of the Central Bank of Reserve of El Salvador, in Session No. CN-02/2018, dated March 7, two thousand eighteen, with validity from March 9, two thousand eighteen.

(2) Modifications approved by the Central Bank of El Salvador through its Committee of Standards, in Session No. CN-10/2018, dated October 19, two thousand eighteen, with validity from October 24, two thousand eighteen.

(3) Modifications approved by the Central Bank of El Salvador through its Committee of Standards, in Session No. CN-15/2018, dated December 20, two thousand eighteen, with validity from December 21, two thousand eighteen.

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

Annex No. 1
NECESSARY PARAMETERS FOR THE GENERATION OF MORTALITY TABLES

The necessary parameters for the generation of the mortality tables are the following:

1. The BH ES and BM ES tables of Annex No. 2, will be used for the calculation of the ctn corresponding to the beneficiaries of survivorship pension.
   The parameters to be used are the following:

i) BH ES (male beneficiaries)
0 ≤ x < 70 70 ≤ x < 110 c = 1.08713806 c = 1.08974392 g = 0.99884852 g = 0.99912795 s = 0.99991596 s = 0.99680157

ii) BM ES (female beneficiaries)
0 ≤ x < 70 70 ≤ x < 110 c = 1.09616544 c = 1.10424985 g = 0.99966998 g = 0.99982389 s = 0.99988595 s = 0.99903395

2. The MI H ES and MI M ES tables of Annex No.2, will be used to calculate the ctn corresponding to disabled affiliates and disabled beneficiaries.
   The parameters to be used are the following:

i) MI H ES (disabled men)
0 ≤ x < 70 70 ≤ x < 110 c = 1.07498069 c = 1.08614559 g = 0.99715038 g = 0.99856960 s = 0.98532445 s = 0.99215459

ii) MI B ES (disabled women)
0 ≤ x < 70 70 ≤ x < 110

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

Annex No. 1
c = 1.08113936 c = 1.10096721 g = 0.99888793 g = 0.99968639 s = 0.99091746 s = 0.99680732

The mortality tables referred to in this numeral have been generated with the information provided for each of them. Generally, for the creation of the tables, the following has been considered:

1. In all columns where multiplications are performed, the round formula has been used.
2. The values corresponding to qx have been approximated to 5 decimals.
3. The values corresponding to the update factor have been approximated to 8 decimals.
4. The rest of the columns have been rounded to zero decimals.

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

Annex No. 3
Determination of Necessary Technical Capital and Generation of Mortality Tables.

The AFP will determine the Necessary Technical Capital in accordance with what is established in this Annex.

I) FORMULAS FOR THE CALCULATION OF ctn

The AFP for the determination of the ctn formulas will use actuarial theory through the development of actuarial functions and commuted values, which allow, from the mortality table and an interest rate, to determine the present value of future benefits in a fast and effective manner. The applicable interest rate that will be used for the generation of the mortality tables will be six percent (6%), tables corresponding to this Annex. The AFP must establish the ctn factor according to the characteristics of the pension originator according to the different calculation formulas described below:

1. Pension originator due to old age.
   ctn = (Nx - N24) / Dx

2. The spouse, partner, when there are no non-disabled children with pension rights or there is one or more disabled children, or father and mother of a pensioner due to old age.
   ctn = (Ny - N24) / Dy - (Nxy - N24) / Dxy

3. The spouse, partner, with children with pension rights, when it comes to old age pensions. Provided that there are no disabled children within the group of beneficiaries.
   ctn = [ (Dy / Dy) - (N24 - N(y+z-hm)) / Dy ] + 0.20 [ (Dy / Dy) - (N24 - N(y+z-hm)) / Dy ] + [ (Dxy / Dxy) - (N24 - N(xz-hm)) / Dxy ] + [ (Dxy / Dxy) - (N24 - N(xz-hm)) / Dxy ] + [ (Dxy / Dxy) - (N24 - N(xz-hm)) / Dxy ]

4. Non-disabled child of the originator, with pension rights (yes and only if: z – h > 0), when it comes to old age pensions.
   ctn = [ (Nx - Nh) - (Nz - Nh) ] / Dx - [ (Nx - Nz) - (Nh - Nh) ] / Dx

5. Disabled child of the originator, with pension rights, when it comes to old age pensions.
   ctn = (Nhi - N24) / Dhi - (Nxhi - N24) / Dxhi

6. Spouse or partner of a deceased affiliate, when there are no children with pension rights, or the children are disabled, or for the father and mother of a deceased affiliate.
   ctn = (Ny - N24) / Dy

7. Spouse or partner of a deceased affiliate, when there are no disabled children and there are children with pension rights.
   ctn = [ (Dy / Dy) - (N24 - N(y+z-hm)) / Dy ] + 0.20 [ (Dy / Dy) - (N24 - N(y+z-hm)) / Dy ]

8. Non-disabled children of a deceased affiliate.
   ctn = (Dh / Dh) - (N(y+z-hz) - N(y+h-hz)) / Dy

9. Disabled children, father or mother of a deceased affiliate.
   ctn = (Nhi - N24) / Dhi

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

Annex No. 3
The number of decimals to be used for the calculation of the ctn is eight digits with normal approximation.

II) DETERMINATION OF CTN

In general terms, to determine the CTN required to finance a pension, the following formula will be applied:
CTN = ctn x 12.5 x reference pension. (2)

To determine the total CTN, it is necessary to add the CTN of the affiliate and that of each of their beneficiaries. When it comes to survivorship pensions, the total CTN will be the sum of the CTN of each of the beneficiaries.

III) GENERATION OF MORTALITY TABLES

The formulas to determine the ctn have been expressed in terms of commuted functions, being necessary the use of analytical functions that allow generating the mortality tables. These analytical functions are presented in terms of qx which corresponds to the probability that a person of age x dies within one year, i.e.:
qx = (lx - lx+1) / lx => qx = dx / lx

The mathematical function used to generate the qx values in mortality tables is expressed as follows:
qx = 1 - (g * (c - 1)^x)

For all tables when the age is 110 years, qx will be equal to 1.

The following presents the necessary parameters for the generation of the mortality tables:

1. RV H ES and RV M ES tables, will be used for the calculation of the ctn corresponding to affiliates retiring due to old age.

i) RV H ES (old age men)
0 ≤ x < 70 70 ≤ x < 110 c = 1.08958261 c = 1.09619240 g = 0.99927508 g = 0.99956741 s = 0.99973666 s = 0.99888792

ii) RV M ES (old age women)
0 ≤ x < 70 70 ≤ x < 110 c = 1.09843146 c = 1.11293478 g = 0.99978776 g = 0.99993164 s = 0.99983305 s = 0.99858218

2. The BH ES and BM ES tables, will be used for the calculation of the ctn corresponding to the beneficiaries of survivorship pension.
   The parameters to be used are the following:

i) BH ES (male beneficiaries)
0 ≤ x < 70 70 ≤ x < 110 c = 1.08713806 c = 1.08974392 g = 0.99884852 g = 0.99912795 s = 0.99991596 s = 0.99680157

ii) BM ES (female beneficiaries)
0 ≤ x < 70 70 ≤ x < 110 c = 1.09616544 c = 1.10424985 g = 0.99966998 g = 0.99982389 s = 0.99988595 s = 0.99903395

3. The MI H ES and MI M ES tables will be used to calculate the ctn corresponding to disabled beneficiaries.
   The parameters to be used are the following:

i) MI H ES (disabled men)
0 ≤ x < 70 70 ≤ x < 110 c = 1.07498069 c = 1.08614559 g = 0.99715038 g = 0.99856960 s = 0.98532445 s = 0.99215459

ii) MI B ES (disabled women)
0 ≤ x < 70 70 ≤ x < 110 c = 1.08113936 c = 1.10096721 g = 0.99888793 g = 0.99968639 s = 0.99091746 s = 0.99680732

The mortality tables referred to in this numeral have been generated with the information provided for each of them. Generally, for the creation of the tables, the following has been considered:

1. In all columns where multiplications are performed, the round formula has been used.
2. The values corresponding to qx have been approximated to 5 decimals.
3. The values corresponding to the update factor have been approximated to 8 decimals.
4. The rest of the columns have been rounded to zero decimals.

NSP-05
NECESSARY CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018

Annex No. 3
OLD AGE MEN TABLES RV H ES i = 6% AGE qx dx lx v^x Dx Nx 0 0.00033 330 1,000,000 1.00000000 1,000,000 17,279,759 1 0.00033 330 999,670 0.94339623 943,085 16,279,759 2 0.00034 340 999,340 0.88999644 889,409 15,336,674 3 0.00035 350 999,000 0.83961928 838,780 14,447,265 4 0.00035 350 998,650 0.79209366 791,024 13,608,485 5 0.00036 359 998,300 0.74725817 745,988 12,817,461 6 0.00037 369 997,941 0.70496054 703,509 12,071,473 7 0.00038 379 997,572 0.66505711 663,442 11,367,964 8 0.00039 389 997,193 0.62741237 625,651 10,704,522 9 0.00040 399 996,804 0.59189846 590,007 10,078,871 10 0.00042 418 996,405 0.55839478 556,387 9,488,864 11 0.00043 428 995,987 0.52678753 524,674 8,932,477 12 0.00045 448 995,559 0.49696936 494,762 8,407,803 13 0.00046 458 995,111 0.46883902 466,547 7,913,041 14 0.00048 477 994,653 0.44230096 439,936 7,446,494 15 0.00050 497 994,176 0.41726506 414,835 7,006,558 16 0.00052 517 993,679 0.39364628 391,158 6,591,723 17 0.00054 536 993,162 0.37136442 368,825 6,200,565 18 0.00057 566 992,626 0.35034379 347,760 5,831,740 19 0.00059 585 992,060 0.33051301 327,889 5,483,980 20 0.00062 615 991,475 0.31180473 309,147 5,156,091 21 0.00066 654 990,860 0.29415540 291,467 4,846,944 22 0.00069 683 990,206 0.27750510 274,787 4,555,477 23 0.00073 722 989,523 0.26179726 259,054 4,280,690 24 0.00077 761 988,801 0.24697855 244,213 4,021,636 25 0.00082 810 988,040 0.23299863 230,212 3,777,423 26 0.00087 859 987,230 0.21981003 217,003 3,547,211 27 0.00092 907 986,371 0.20736795 204,542 3,330,208 28 0.00098 966 985,464 0.19563014 192,786 3,125,666 29 0.00104 1,024 984,498 0.18455674 181,696 2,932,880 30 0.00111 1,092 983,474 0.17411013 171,233 2,751,184 31 0.00119 1,169 982,382 0.16425484 161,361 2,579,951

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
OLD AGE MEN TABLES RV H ES i = 6% AGE qx dx lx v^x Dx Nx 32 0.00127 1,246 981,213 0.15495740 152,046 2,418,590 33 0.00136 1,333 979,967 0.14618622 143,258 2,266,544 34 0.00146 1,429 978,634 0.13791153 134,965 2,123,286 35 0.00157 1,534 977,205 0.13010522 127,139 1,988,321 36 0.00169 1,649 975,671 0.12274077 119,755 1,861,182 37 0.00182 1,773 974,022 0.11579318 112,785 1,741,427 38 0.00195 1,896 972,249 0.10923885 106,207 1,628,642 39 0.00211 2,047 970,353 0.10305552 100,000 1,522,435 40 0.00227 2,198 968,306 0.09722219 94,141 1,422,435 41 0.00245 2,367 966,108 0.09171905 88,611 1,328,294 42 0.00265 2,554 963,741 0.08652740 83,390 1,239,683 43 0.00286 2,749 961,187 0.08162962 78,461 1,156,293 44 0.00309 2,962 958,438 0.07700908 73,808 1,077,832 45 0.00334 3,191 955,476 0.07265007 69,415 1,004,024 46 0.00362 3,447 952,285 0.06853781 65,268 934,609 47 0.00392 3,719 948,838 0.06465831 61,350 869,341 48 0.00425 4,017 945,119 0.06099840 57,651 807,991 49 0.00460 4,329 941,102 0.05754566 54,156 750,340 50 0.00499 4,674 936,773 0.05428836 50,856 696,184 51 0.00541 5,043 932,099 0.05121544 47,738 645,328 52 0.00587 5,442 927,056 0.04831645 44,792 597,590 53 0.00637 5,871 921,614 0.04558156 42,009 552,798 54 0.00692 6,337 915,743 0.04300147 39,378 510,789 55 0.00751 6,830 909,406 0.04056742 36,892 471,411 56 0.00816 7,365 902,576 0.03827115 34,543 434,519 57 0.00886 7,932 895,211 0.03610486 32,321 399,976 58 0.00963 8,544 887,279 0.03406119 30,222 367,655 59 0.01047 9,200 878,735 0.03213320 28,237 337,433 60 0.01137 9,887 869,535 0.03031434 26,359 309,196 61 0.01236 10,625 859,648 0.02859843 24,585 282,837 62 0.01344 11,411 849,023 0.02697965 22,906 258,252 63 0.01461 12,238 837,612 0.02545250 21,319 235,346

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
OLD AGE MEN TABLES RV H ES i = 6% AGE qx dx lx v^x Dx Nx 64 0.01589 13,115 825,374 0.02401179 19,819 214,027 65 0.01727 14,028 812,259 0.02265264 18,400 194,208 66 0.01878 14,991 798,231 0.02137041 17,059 175,808 67 0.02043 16,002 783,240 0.02016077 15,791 158,749 68 0.02221 17,040 767,238 0.01901959 14,593 142,958 69 0.02416 18,125 750,198 0.01794301 13,461 128,365 70 0.02654 19,429 732,073 0.01692737 12,392 114,904 71 0.02895 20,631 712,644 0.01596921 11,380 102,512 72 0.03159 21,861 692,013 0.01506530 10,425 91,132 73 0.03447 23,100 670,152 0.01421254 9,525 80,707 74 0.03762 24,342 647,052 0.01340806 8,676 71,182 75 0.04106 25,568 622,710 0.01264911 7,877 62,506 76 0.04482 26,764 597,142 0.01193313 7,126 54,629 77 0.04892 27,903 570,378 0.01125767 6,421 47,503 78 0.05340 28,968 542,475 0.01062044 5,761 41,082 79 0.05828 29,927 513,507 0.01001928 5,145 35,321 80 0.06360 30,756 483,580 0.00945215 4,571 30,176 81 0.06940 31,426 452,824 0.00891713 4,038 25,605 82 0.07572 31,908 421,398 0.00841238 3,545 21,567 83 0.08260 32,172 389,490 0.00793621 3,091 18,022 84 0.09008 32,187 357,318 0.00748699 2,675 14,931 85 0.09821 31,931 325,131 0.00706320 2,296 12,256 86 0.10703 31,381 293,200 0.00666340 1,954 9,960 87 0.11661 30,531 261,819 0.00628622 1,646 8,006 88 0.12699 29,371 231,288 0.00593040 1,372 6,360 89 0.13823 27,911 201,917 0.00559472 1,130 4,988 90 0.15038 26,167 174,006 0.00527803 918 3,858 91 0.16351 24,173 147,839 0.00497928 736 2,940 92 0.17766 21,971 123,666 0.00469743 581 2,204 93 0.19290 19,617 101,695 0.00443154 451 1,623 94 0.20929 17,178 82,078 0.00418070 343 1,172 95 0.22686 14,723 64,900 0.00394405 256 829

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
OLD AGE MEN TABLES RV H ES i = 6% AGE qx dx lx v^x Dx Nx 96 0.24568 12,327 50,177 0.00372081 187 573 97 0.26579 10,060 37,850 0.00351019 133 386 98 0.28721 7,982 27,790 0.00331150 92 253 99 0.30998 6,140 19,808 0.00312406 62 161 100 0.33410 4,566 13,668 0.00294723 40 99 101 0.35957 3,273 9,102 0.00278040 25 59 102 0.38638 2,252 5,829 0.00262302 15 34 103 0.41448 1,483 3,577 0.00247455 9 19 104 0.44380 929 2,094 0.00233448 5 10 105 0.47426 553 1,165 0.00220234 3 5 106 0.50574 310 612 0.00207768 1 2 107 0.53808 163 302 0.00196007 1 1 108 0.57111 79 139 0.00184913 0 0 109 0.60461 60 60 0.00174446 0 0 110 1.00000000.00164572 0 0

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
OLD AGE WOMEN TABLES RV M ES i = 6% AGE qx dx lx v^x Dx Nx 0 0.00019 190 1000,000 1.00000000 1000,000 17415,233 1 0.00019 190 999,810 0.94339623 943,217 16415,233 2 0.00019 190 999,620 0.88999644 889,658 15472,016 3 0.00019 190 999,430 0.83961928 839,141 14582,358 4 0.00020 200 999,240 0.79209366 791,492 13743,217 5 0.00020 200 999,040 0.74725817 746,541 12951,725 6 0.00020 200 998,840 0.70496054 704,143 12205,184 7 0.00021 210 998,640 0.66505711 664,153 11501,041 8 0.00021 210 998,430 0.62741237 626,427 10836,888 9 0.00022 220 998,220 0.59189846 590,845 10210,461 10 0.00022 220 998,000 0.55839478 557,278 9619,616 11 0.00023 229 997,780 0.52678753 525,618 9062,338 12 0.00023 229 997,551 0.49696936 495,752 8536,720 13 0.00024 239 997,322 0.46883902 467,583 8040,968 14 0.00024 239 997,083 0.44230096 441,011 7573,385 15 0.00025 249 996,844 0.41726506 415,948 7132,374 16 0.00026 259 996,595 0.39364628 392,306 6716,426 17 0.00027 269 996,336 0.37136442 370,004 6324,120 18 0.00028 279 996,067 0.35034379 348,966 5954,116 19 0.00029 289 995,788 0.33051301 329,121 5605,150 20 0.00030 299 995,499 0.31180473 310,401 5276,029 21 0.00032 318 995,200 0.29415540 292,743 4965,628 22 0.00033 328 994,882 0.27750510 276,085 4672,885 23 0.00035 348 994,554 0.26179726 260,372 4396,800 24 0.00037 368 994,206 0.24697855 245,548 4136,428 25 0.00039 388 993,838 0.23299863 231,563 3890,880 26 0.00041 407 993,450 0.21981003 218,370 3659,317 27 0.00043 427 993,043 0.20736795 205,925 3440,947 28 0.00046 457 992,616 0.19563014 194,186 3235,022 29 0.00048 476 992,159 0.18455674 183,110 3040,836 30 0.00052 516 991,683 0.17411013 172,662 2857,726

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
OLD AGE WOMEN TABLES RV M ES i = 6% AGE qx dx lx v^x Dx Nx 31 0.00055 545 991,167 0.16425484 162,804 2685,064 32 0.00059 584 990,622 0.15495740 153,504 2522,260 33 0.00063 624 990,038 0.14618622 144,730 2368,756 34 0.00068 673 989,414 0.13791153 136,452 2224,026 35 0.00073 722 988,741 0.13010522 128,640 2087,574 36 0.00078 771 988,019 0.12274077 121,270 1958,934 37 0.00084 829 987,248 0.11579318 114,317 1837,664 38 0.00091 898 986,419 0.10923885 107,755 1723,347 39 0.00098 966 985,521 0.10305552 101,563 1615,592 40 0.00106 1,044 984,555 0.09722219 95,721 1514,029 41 0.00115 1,131 983,511 0.09171905 90,207 1418,308 42 0.00124 1,218 982,380 0.08652740 85,003 1328,101 43 0.00135 1,325 981,162 0.08162962 80,092 1243,098 44 0.00147 1,440 979,837 0.07700908 75,456 1163,006 45 0.00159 1,556 978,397 0.07265007 71,081 1087,550 46 0.00173 1,690 976,841 0.06853781 66,951 1016,469 47 0.00189 1,843 975,151 0.06465831 63,052 949,518 48 0.00206 2,005 973,308 0.06099840 59,370 886,466 49 0.00224 2,176 971,303 0.05754566 55,894 827,096 50 0.00245 2,374 969,127 0.05428836 52,612 771,202 51 0.00267 2,581 966,753 0.05121544 49,513 718,590 52 0.00292 2,815 964,172 0.04831645 46,585 669,077 53 0.00319 3,067 961,357 0.04558156 43,820 622,492 54 0.00349 3,344 958,290 0.04300147 41,208 578,672 55 0.00381 3,638 954,946 0.04056742 38,740 537,464 56 0.00417 3,967 951,308 0.03827115 36,408 498,724 57 0.00456 4,320 947,341 0.03610486 34,204 462,316 58 0.00499 4,706 943,021 0.03406119 32,120 428,112 59 0.00547 5,133 938,315 0.03213320 30,151 395,992 60 0.00599 5,590 933,182 0.03031434 28,289 365,841 61 0.00656 6,085 927,592 0.02859843 26,528 337,552

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
OLD AGE WOMEN TABLES RV M ES i = 6% AGE qx dx lx v^x Dx Nx 62 0.00719 6,626 921,507 0.02697965 24,862 311,024 63 0.00788 7,209 914,881 0.02545250 23,286 286,162 64 0.00863 7,833 907,672 0.02401179 21,795 262,876 65 0.00946 8,512 899,839 0.02265264 20,384 241,081 66 0.01037 9,243 891,327 0.02137041 19,048 220,697 67 0.01137 10,029 882,084 0.02016077 17,783 201,649 68 0.01246 10,866 872,055 0.01901959 16,586 183,866 69 0.01367 11,772 861,189 0.01794301 15,452 167,280 70 0.01512 12,843 849,417 0.01692737 14,378 151,828 71 0.01666 13,937 836,574 0.01596921 13,359 137,450 72 0.01837 15,112 822,637 0.01506530 12,393 124,091 73 0.02026 16,360 807,525 0.01421254 11,477 111,698 74 0.02237 17,698 791,165 0.01340806 10,608 100,221 75 0.02471 19,112 773,467 0.01264911 9,784 89,613 76 0.02730 20,594 754,355 0.01193313 9,002 79,829 77 0.03018 22,145 733,761 0.01125767 8,260 70,827 78 0.03338 23,754 711,616 0.01062044 7,558 62,567 79 0.03692 25,396 687,862 0.01001928 6,892 55,009 80 0.04085 27,062 662,466 0.00945215 6,262 48,117 81 0.04521 28,727 635,404 0.00891713 5,666 41,855 82 0.05003 30,352 606,677 0.00841238 5,104 36,189 83 0.05537 31,911 576,325 0.00793621 4,574 31,085 84 0.06128 33,362 544,414 0.00748699 4,076 26,511 85 0.06781 34,654 511,052 0.00706320 3,610 22,435 86 0.07502 35,739 476,398 0.00666340 3,174 18,825 87 0.08299 36,570 440,659 0.00628622 2,770 15,651 88 0.09177 37,083 404,089 0.00593040 2,396 12,881 89 0.10144 37,229 367,006 0.00559472 2,053 10,485 90 0.11209 36,965 329,777 0.00527803 1,741 8,432 91 0.12379 36,247 292,812 0.00497928 1,458 6,691 92 0.13663 35,054 256,565 0.00469743 1,205 5,233

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
OLD AGE WOMEN TABLES RV M ES i = 6% AGE qx dx lx v^x Dx Nx 93 0.15071 33,384 221,511 0.00443154 982 4,028 94 0.16610 31,248 188,127 0.00418070 787 3,046 95 0.18290 28,693 156,879 0.00394405 619 2,259 96 0.20120 25,791 128,186 0.00372081 477 1,640 97 0.22108 22,637 102,395 0.00351019 359 1,163 98 0.24263 19,352 79,758 0.00331150 264 804 99 0.26592 16,063 60,406 0.00312406 189 540 100 0.29099 12,903 44,343 0.00294723 131 351 101 0.31789 9,994 31,440 0.00278040 87 220 102 0.34662 7,434 21,446 0.00262302 56 133 103 0.37719 5,285 14,012 0.00247455 35 77 104 0.40952 3,574 8,727 0.00233448 20 42 105 0.44354 2,286 5,153 0.00220234 11 22 106 0.47910 1,374 2,867 0.00207768 6 11 107 0.51601 770 1,493 0.00196007 3 5 108 0.55402 401 723 0.00184913 1 2 109 0.59283 322 322 0.00174446 1 1 110 1.000000.00164572 0 0

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
BENEFICIARIES MEN TABLES BH ES i = 6% AGE qx dx lx v^x Dx Nx 0 0.00018 180 1000,000 1.00000000 1000,000 17255,420 1 0.00019 190 999,820 0.94339623 943,226 16255,420 2 0.00020 200 999,630 0.88999644 889,667 15312,194 3 0.00021 210 999,430 0.83961928 839,141 14422,527 4 0.00022 220 999,220 0.79209366 791,476 13583,386 5 0.00024 240 999,000 0.74725817 746,511 12791,910 6 0.00025 250 998,760 0.70496054 704,086 12045,399 7 0.00026 260 998,510 0.66505711 664,066 11341,313 8 0.00028 280 998,250 0.62741237 626,314 10677,247 9 0.00030 299 997,970 0.59189846 590,697 10050,933 10 0.00032 319 997,671 0.55839478 557,094 9460,236 11 0.00034 339 997,352 0.52678753 525,393 8903,142 12 0.00036 359 997,013 0.49696936 495,485 8377,749 13 0.00038 379 996,654 0.46883902 467,270 7882,264 14 0.00041 408 996,275 0.44230096 440,653 7414,994 15 0.00044 438 995,867 0.41726506 415,541 6974,341 16 0.00047 468 995,429 0.39364628 391,847 6558,800 17 0.00050 497 994,961 0.37136442 369,493 6166,953 18 0.00054 537 994,464 0.35034379 348,404 5797,460 19 0.00057 567 993,927 0.33051301 328,506 5449,056 20 0.00062 616 993,360 0.31180473 309,734 5120,550 21 0.00066 655 992,744 0.29415540 292,021 4810,816 22 0.00071 704 992,089 0.27750510 275,310 4518,795 23 0.00077 763 991,385 0.26179726 259,542 4243,485 24 0.00083 822 990,622 0.24697855 244,662 3983,943 25 0.00089 881 989,800 0.23299863 230,622 3739,281 26 0.00096 949 988,919 0.21981003 217,374 3508,659 27 0.00104 1,027 987,970 0.20736795 204,873 3291,285 28 0.00112 1,105 986,943 0.19563014 193,076 3086,412 29 0.00122 1,203 985,838 0.18455674 181,943 2893,336 30 0.00131 1,290 984,635 0.17411013 171,435 2711,393

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
BENEFICIARIES MEN TABLES BH ES i = 6% AGE qx dx lx v^x Dx Nx 31 0.00142 1,396 983,345 0.16425484 161,519 2539,958 32 0.00154 1,512 981,949 0.15495740 152,160 2378,439 33 0.00166 1,628 980,437 0.14618622 143,326 2226,279 34 0.00180 1,762 978,809 0.13791153 134,989 2082,953 35 0.00195 1,905 977,047 0.13010522 127,119 1947,964 36 0.00211 2,058 975,142 0.12274077 119,690 1820,845 37 0.00229 2,228 973,084 0.11579318 112,676 1701,155 38 0.00248 2,408 970,856 0.10923885 106,055 1588,479 39 0.00269 2,605 968,448 0.10305552 99,804 1482,424 40 0.00292 2,820 965,843 0.09722219 93,901 1382,620 41 0.00316 3,043 963,023 0.09171905 88,328 1288,719 42 0.00343 3,293 959,980 0.08652740 83,065 1200,391 43 0.00372 3,559 956,687 0.08162962 78,094 1117,326 44 0.00404 3,851 953,128 0.07700908 73,400 1039,232 45 0.00438 4,158 949,277 0.07265007 68,965 965,832 46 0.00476 4,499 945,119 0.06853781 64,776 896,867 47 0.00517 4,863 940,620 0.06465831 60,819 832,091 48 0.00561 5,250 935,757 0.06099840 57,080 771,272 49 0.00609 5,667 930,507 0.05754566 53,547 714,192 50 0.00661 6,113 924,840 0.05428836 50,208 660,645 51 0.00717 6,587 918,727 0.05121544 47,053 610,437 52 0.00779 7,106 912,140 0.04831645 44,071 563,384 53 0.00846 7,657 905,034 0.04558156 41,253 519,313 54 0.00918 8,238 897,377 0.04300147 38,589 478,060 55 0.00997 8,865 889,139 0.04056742 36,070 439,471 56 0.01083 9,533 880,274 0.03827115 33,689 403,401 57 0.01176 10,240 870,741 0.03610486 31,438 369,712 58 0.01277 10,989 860,501 0.03406119 29,310 338,274 59 0.01387 11,783 849,512 0.03213320 27,298 308,964 60 0.01506 12,616 837,729 0.03031434 25,395 281,666 61 0.01636 13,499 825,113 0.02859843 23,597 256,271

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
BENEFICIARIES MEN TABLES BH ES i = 6% AGE qx dx lx v^x Dx Nx 62 0.01776 14,414 811,614 0.02697965 21,897 232,674 63 0.01929 15,378 797,200 0.02545250 20,291 210,777 64 0.02094 16,371 781,822 0.02401179 18,773 190,486 65 0.02274 17,406 765,451 0.02265264 17,339 171,713 66 0.02469 18,469 748,045 0.02137041 15,986 154,374 67 0.02681 19,560 729,576 0.02016077 14,709 138,388 68 0.02910 20,661 710,016 0.01901959 13,504 123,679 69 0.03159 21,777 689,355 0.01794301 12,369 110,175 70 0.03468 23,152 667,578 0.01692737 11,300 97,806 71 0.03746 24,140 644,426 0.01596921 10,291 86,506 72 0.04048 25,109 620,286 0.01506530 9,345 76,215 73 0.04375 26,039 595,177 0.01421254 8,459 66,870 74 0.04731 26,926 569,138 0.01340806 7,631 58,411 75 0.05117 27,745 542,212 0.01264911 6,858 50,780 76 0.05536 28,481 514,467 0.01193313 6,139 43,922 77 0.05991 29,115 485,986 0.01125767 5,471 37,783 78 0.06484 29,624 456,871 0.01062044 4,852 32,312 79 0.07018 29,984 427,247 0.01001928 4,281 27,460 80 0.07597 30,180 397,263 0.00945215 3,755 23,179 81 0.08223 30,185 367,083 0.00891713 3,273 19,424 82 0.08901 29,987 336,898 0.00841238 2,834 16,151 83 0.09634 29,568 306,911 0.00793621 2,436 13,317 84 0.10426 28,916 277,343 0.00748699 2,076 10,881 85 0.11281 28,025 248,427 0.00706320 1,755 8,805 86 0.12204 26,898 220,402 0.00666340 1,469 7,050 87 0.13199 25,541 193,504 0.00628622 1,216 5,581 88 0.14270 23,968 167,963 0.00593040 996 4,365 89 0.15422 22,207 143,995 0.00559472 806 3,369 90 0.16660 20,290 121,788 0.00527803 643 2,563 91 0.17988 18,257 101,498 0.00497928 505 1,920 92 0.19412 16,159 83,241 0.00469743 391 1,415

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
BENEFICIARIES MEN TABLES BH ES i = 6% AGE qx dx lx v^x Dx Nx 93 0.20935 14,044 67,082 0.00443154 297 1,024 94 0.22562 11,966 53,038 0.00418070 222 727 95 0.24297 9,979 41,072 0.00394405 162 505 96 0.26143 8,129 31,093 0.00372081 116 343 97 0.28104 6,454 22,964 0.00351019 81 227 98 0.30181 4,983 16,510 0.00331150 55 146 99 0.32377 3,732 11,527 0.00312406 36 91 100 0.34692 2,704 7,795 0.00294723 23 55 101 0.37123 1,890 5,091 0.00278040 14 32 102 0.39671 1,270 3,201 0.00262302 8 18 103 0.42329 817 1,931 0.00247455 5 10 104 0.45093 502 1,114 0.00233448 3 5 105 0.47954 293 612 0.00220234 1 2 106 0.50902 162 319 0.00207768 1 1 107 0.53926 85 157 0.00196007 0 0 108 0.57008 41 72 0.00184913 0 0 109 0.60134 31 31 0.00174446 0 0 110 1.00000.00164572 0 0

NSP-05
TECHNICAL CAPITAL AND MORTALITY TABLE GENERATION Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
BENEFICIARIES WOMEN TABLES BM ES i = 6% AGE qx dx lx v^x Dx Nx 0 0.00015 150 1000,000 1.00000000 1000,000 17390,518 1 0.00015 150 999,850 0.94339623 943,255 16390,518 2 0.00015

NSP-05
TECHNICAL STANDARDS FOR DETERMINING NECESSARY TECHNICAL CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
MORTALITY TABLES FOR DISABLED MEN MI H ES i = 6% AGE qx dx lx v^x Dx Nx 0 0.01489 14,890 1000,000 1.00000000 1000,000 13992,078 1 0.01490 14,678 985,110 0.94339623 929,349 12992,078 2 0.01492 14,479 970,432 0.88999644 863,681 12062,729 3 0.01494 14,282 955,953 0.83961928 802,637 11199,048 4 0.01496 14,087 941,671 0.79209366 745,892 10396,411 5 0.01498 13,895 927,584 0.74725817 693,145 9650,519 6 0.01500 13,705 913,689 0.70496054 644,115 8957,374 7 0.01503 13,527 899,984 0.66505711 598,541 8313,259 8 0.01505 13,341 886,457 0.62741237 556,174 7714,718 9 0.01508 13,167 873,116 0.59189846 516,796 7158,544 10 0.01511 12,994 859,949 0.55839478 480,191 6641,748 11 0.01514 12,823 846,955 0.52678753 446,165 6161,557 12 0.01518 12,662 834,132 0.49696936 414,538 5715,392 13 0.01522 12,503 821,470 0.46883902 385,137 5300,854 14 0.01526 12,345 808,967 0.44230096 357,807 4915,717 15 0.01530 12,188 796,622 0.41726506 332,403 4557,910 16 0.01535 12,041 784,434 0.39364628 308,790 4225,507 17 0.01540 11,895 772,393 0.37136442 286,839 3916,717 18 0.01545 11,750 760,498 0.35034379 266,436 3629,878 19 0.01551 11,613 748,748 0.33051301 247,471 3363,442 20 0.01557 11,477 737,135 0.31180473 229,842 3115,971 21 0.01564 11,349 725,658 0.29415540 213,456 2886,129 22 0.01571 11,222 714,309 0.27750510 198,224 2672,673 23 0.01579 11,102 703,087 0.26179726 184,066 2474,449 24 0.01587 10,982 691,985 0.24697855 170,905 2290,383 25 0.01596 10,869 681,003 0.23299863 158,673 2119,478 26 0.01606 10,762 670,134 0.21981003 147,302 1960,805 27 0.01616 10,655 659,372 0.20736795 136,733 1813,503 28 0.01627 10,555 648,717 0.19563014 126,909 1676,770 29 0.01639 10,459 638,162 0.18455674 117,777 1549,861 30 0.01652 10,370 627,703 0.17411013 109,289 1432,084

NSP-05
TECHNICAL STANDARDS FOR DETERMINING NECESSARY TECHNICAL CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
MORTALITY TABLES FOR DISABLED MEN MI H ES i = 6% AGE qx dx lx v^x Dx Nx 31 0.01666 10,285 617,333 0.16425484 101,400 1322,795 32 0.01681 10,204 607,048 0.15495740 94,067 1221,395 33 0.01696 10,122 596,844 0.14618622 87,250 1127,328 34 0.01714 10,056 586,722 0.13791153 80,916 1040,078 35 0.01732 9,988 576,666 0.13010522 75,027 959,162 36 0.01752 9,928 566,678 0.12274077 69,554 884,135 37 0.01773 9,871 556,750 0.11579318 64,468 814,581 38 0.01796 9,822 546,879 0.10923885 59,740 750,113 39 0.01821 9,780 537,057 0.10305552 55,347 690,373 40 0.01847 9,739 527,277 0.09722219 51,263 635,026 41 0.01875 9,704 517,538 0.09171905 47,468 583,763 42 0.01906 9,679 507,834 0.08652740 43,942 536,295 43 0.01939 9,659 498,155 0.08162962 40,664 492,353 44 0.01974 9,643 488,496 0.07700908 37,619 451,689 45 0.02012 9,635 478,853 0.07265007 34,789 414,070 46 0.02052 9,628 469,218 0.06853781 32,159 379,281 47 0.02096 9,633 459,590 0.06465831 29,716 347,122 48 0.02143 9,643 449,957 0.06099840 27,447 317,406 49 0.02194 9,660 440,314 0.05754566 25,338 289,959 50 0.02248 9,681 430,654 0.05428836 23,379 264,621 51 0.02306 9,708 420,973 0.05121544 21,560 241,242 52 0.02369 9,743 411,265 0.04831645 19,871 219,682 53 0.02436 9,781 401,522 0.04558156 18,302 199,811 54 0.02508 9,825 391,741 0.04300147 16,845 181,509 55 0.02586 9,876 381,916 0.04056742 15,493 164,664 56 0.02669 9,930 372,040 0.03827115 14,238 149,171 57 0.02759 9,991 362,110 0.03610486 13,074 134,933 58 0.02855 10,053 352,119 0.03406119 11,994 121,859 59 0.02958 10,118 342,066 0.03213320 10,992 109,865 60 0.03069 10,187 331,948 0.03031434 10,063 98,873 61 0.03188 10,258 321,761 0.02859843 9,202 88,810

NSP-05
TECHNICAL STANDARDS FOR DETERMINING NECESSARY TECHNICAL CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
MORTALITY TABLES FOR DISABLED MEN MI H ES i = 6% AGE qx dx lx v^x Dx Nx 62 0.03315 10,326 311,503 0.02697965 8,404 79,608 63 0.03453 10,400 301,177 0.02545250 7,666 71,204 64 0.03600 10,468 290,777 0.02401179 6,982 63,538 65 0.03758 10,534 280,309 0.02265264 6,350 56,556 66 0.03927 10,594 269,775 0.02137041 5,765 50,206 67 0.04109 10,650 259,181 0.02016077 5,225 44,441 68 0.04305 10,699 248,531 0.01901959 4,727 39,216 69 0.04514 10,736 237,832 0.01794301 4,267 34,489 70 0.04685 10,639 227,096 0.01692737 3,844 30,222 71 0.05013 10,851 216,457 0.01596921 3,457 26,378 72 0.05369 11,039 205,606 0.01506530 3,098 22,921 73 0.05754 11,195 194,567 0.01421254 2,765 19,823 74 0.06170 11,314 183,372 0.01340806 2,459 17,058 75 0.06620 11,390 172,058 0.01264911 2,176 14,599 76 0.07107 11,419 160,668 0.01193313 1,917 12,423 77 0.07632 11,391 149,249 0.01125767 1,680 10,506 78 0.08199 11,303 137,858 0.01062044 1,464 8,826 79 0.08811 11,151 126,555 0.01001928 1,268 7,362 80 0.09472 10,931 115,404 0.00945215 1,091 6,094 81 0.10184 10,640 104,473 0.00891713 932 5,003 82 0.10950 10,275 93,833 0.00841238 789 4,071 83 0.11776 9,840 83,558 0.00793621 663 3,282 84 0.12664 9,336 73,718 0.00748699 552 2,619 85 0.13618 8,768 64,382 0.00706320 455 2,067 86 0.14642 8,143 55,614 0.00666340 371 1,612 87 0.15741 7,472 47,471 0.00628622 298 1,241 88 0.16919 6,767 39,999 0.00593040 237 943 89 0.18180 6,042 33,232 0.00559472 186 706 90 0.19527 5,309 27,190 0.00527803 144 520 91 0.20966 4,588 21,881 0.00497928 109 376 92 0.22499 3,891 17,293 0.00469743 81 267

NSP-05
TECHNICAL STANDARDS FOR DETERMINING NECESSARY TECHNICAL CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
MORTALITY TABLES FOR DISABLED MEN MI H ES i = 6% AGE qx dx lx v^x Dx Nx 93 0.24131 3,234 13,402 0.00443154 59 186 94 0.25864 2,630 10,168 0.00418070 43 127 95 0.27702 2,088 7,538 0.00394405 30 84 96 0.29646 1,616 5,450 0.00372081 20 54 97 0.31699 1,215 3,834 0.00351019 13 34 98 0.33861 887 2,619 0.00331150 9 21 99 0.36132 626 1,732 0.00312406 5 12 100 0.38510 426 1,106 0.00294723 3 7 101 0.40993 279 680 0.00278040 2 4 102 0.43576 175 401 0.00262302 1 2 103 0.46253 105 226 0.00247455 1 1 104 0.49018 59 121 0.00233448 0 0 105 0.51860 32 62 0.00220234 0 0 106 0.54767 16 30 0.00207768 0 0 107 0.57727 8 14 0.00196007 0 0 108 0.60722 4 6 0.00184913 0 0 109 0.63736 2 2 0.00174446 0 0 110 1.000000.00164572 0 0

NSP-05
TECHNICAL STANDARDS FOR DETERMINING NECESSARY TECHNICAL CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
MORTALITY TABLES FOR DISABLED WOMEN MI M ES i = 6% AGE qx dx lx v^x Dx Nx 0 0.00917 9,170 1000,000 1.00000000 1000,000 15173,507 1 0.00918 9,096 990,830 0.94339623 934,745 14173,507 2 0.00919 9,022 981,734 0.88999644 873,740 13238,762 3 0.00920 8,949 972,712 0.83961928 816,708 12365,022 4 0.00920 8,867 963,763 0.79209366 763,391 11548,314 5 0.00921 8,795 954,896 0.74725817 713,554 10784,923 6 0.00923 8,733 946,101 0.70496054 666,964 10071,369 7 0.00924 8,661 937,368 0.66505711 623,403 9404,405 8 0.00925 8,591 928,707 0.62741237 582,682 8781,002 9 0.00926 8,520 920,116 0.59189846 544,615 8198,320 10 0.00928 8,460 911,596 0.55839478 509,030 7653,705 11 0.00929 8,390 903,136 0.52678753 475,761 7144,675 12 0.00931 8,330 894,746 0.49696936 444,661 6668,914 13 0.00933 8,270 886,416 0.46883902 415,586 6224,253 14 0.00935 8,211 878,146 0.44230096 388,405 5808,667 15 0.00937 8,151 869,935 0.41726506 362,993 5420,262 16 0.00939 8,092 861,784 0.39364628 339,238 5057,269 17 0.00942 8,042 853,692 0.37136442 317,031 4718,031 18 0.00945 7,991 845,650 0.35034379 296,268 4401,000 19 0.00948 7,941 837,659 0.33051301 276,857 4104,732 20 0.00951 7,891 829,718 0.31180473 258,710 3827,875 21 0.00954 7,840 821,827 0.29415540 241,745 3569,165 22 0.00958 7,798 813,987 0.27750510 225,886 3327,420 23 0.00962 7,756 806,189 0.26179726 211,058 3101,534 24 0.00966 7,713 798,433 0.24697855 197,196 2890,476 25 0.00971 7,678 790,720 0.23299863 184,237 2693,280 26 0.00976 7,642 783,042 0.21981003 172,120 2509,043 27 0.00982 7,614 775,400 0.20736795 160,793 2336,923 28 0.00988 7,586 767,786 0.19563014 150,202 2176,130 29 0.00994 7,556 760,200 0.18455674 140,300 2025,928 30 0.01001 7,534 752,644 0.17411013 131,043 1885,628

NSP-05
TECHNICAL STANDARDS FOR DETERMINING NECESSARY TECHNICAL CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
MORTALITY TABLES FOR DISABLED WOMEN MI M ES i = 6% AGE qx dx lx v^x Dx Nx 31 0.01009 7,518 745,110 0.16425484 122,388 1754,585 32 0.01017 7,501 737,592 0.15495740 114,295 1632,197 33 0.01026 7,491 730,091 0.14618622 106,729 1517,902 34 0.01035 7,479 722,600 0.13791153 99,655 1411,173 35 0.01045 7,473 715,121 0.13010522 93,041 1311,518 36 0.01057 7,480 707,648 0.12274077 86,857 1218,477 37 0.01069 7,485 700,168 0.11579318 81,075 1131,620 38 0.01082 7,495 692,683 0.10923885 75,668 1050,545 39 0.01096 7,510 685,188 0.10305552 70,612 974,877 40 0.01111 7,529 677,678 0.09722219 65,885 904,265 41 0.01127 7,553 670,149 0.09171905 61,465 838,380 42 0.01145 7,587 662,596 0.08652740 57,333 776,915 43 0.01164 7,624 655,009 0.08162962 53,468 719,582 44 0.01185 7,672 647,385 0.07700908 49,855 666,114 45 0.01207 7,721 639,713 0.07265007 46,475 616,259 46 0.01231 7,780 631,992 0.06853781 43,315 569,784 47 0.01258 7,853 624,212 0.06465831 40,360 526,469 48 0.01286 7,926 616,359 0.06099840 37,597 486,109 49 0.01317 8,013 608,433 0.05754566 35,013 448,512 50 0.01350 8,106 600,420 0.05428836 32,596 413,499 51 0.01385 8,204 592,314 0.05121544 30,336 380,903 52 0.01424 8,318 584,110 0.04831645 28,222 350,567 53 0.01466 8,441 575,792 0.04558156 26,245 322,345 54 0.01511 8,573 567,351 0.04300147 24,397 296,100 55 0.01559 8,711 558,778 0.04056742 22,668 271,703 56 0.01612 8,867 550,067 0.03827115 21,052 249,035 57 0.01669 9,033 541,200 0.03610486 19,540 227,983 58 0.01730 9,206 532,167 0.03406119 18,126 208,443 59 0.01797 9,398 522,961 0.03213320 16,804 190,317 60 0.01869 9,598 513,563 0.03031434 15,568 173,513 61 0.01946 9,807 503,965 0.02859843 14,413 157,945

NSP-05
TECHNICAL STANDARDS FOR DETERMINING NECESSARY TECHNICAL CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
MORTALITY TABLES FOR DISABLED WOMEN MI M ES i = 6% AGE qx dx lx v^x Dx Nx 62 0.02030 10,031 494,158 0.02697965 13,332 143,532 63 0.02120 10,263 484,127 0.02545250 12,322 130,200 64 0.02218 10,510 473,864 0.02401179 11,378 117,878 65 0.02323 10,764 463,354 0.02265264 10,496 106,500 66 0.02437 11,030 452,590 0.02137041 9,672 96,004 67 0.02560 11,304 441,560 0.02016077 8,902 86,332 68 0.02693 11,587 430,256 0.01901959 8,183 77,430 69 0.02837 11,878 418,669 0.01794301 7,512 69,247 70 0.02936 11,943 406,791 0.01692737 6,886 61,735 71 0.03196 12,619 394,848 0.01596921 6,305 54,849 72 0.03482 13,309 382,229 0.01506530 5,758 48,544 73 0.03795 14,001 368,920 0.01421254 5,243 42,786 74 0.04140 14,694 354,919 0.01340806 4,759 37,543 75 0.04517 15,368 340,225 0.01264911 4,304 32,784 76 0.04931 16,019 324,857 0.01193313 3,877 28,480 77 0.05385 16,631 308,838 0.01125767 3,477 24,603 78 0.05881 17,185 292,207 0.01062044 3,103 21,126 79 0.06425 17,670 275,022 0.01001928 2,756 18,023 80 0.07021 18,069 257,352 0.00945215 2,433 15,267 81 0.07672 18,358 239,283 0.00891713 2,134 12,834 82 0.08383 18,520 220,925 0.00841238 1,859 10,700 83 0.09160 18,540 202,405 0.00793621 1,606 8,841 84 0.10008 18,401 183,865 0.00748699 1,377 7,235 85 0.10933 18,090 165,464 0.00706320 1,169 5,858 86 0.11939 17,595 147,374 0.00666340 982 4,689 87 0.13035 16,917 129,779 0.00628622 816 3,707 88 0.14225 16,055 112,862 0.00593040 669 2,891 89 0.15516 15,021 96,807 0.00559472 542 2,222 90 0.16915 13,834 81,786 0.00527803 432 1,680 91 0.18429 12,523 67,952 0.00497928 338 1,248 92 0.20064 11,121 55,429 0.00469743 260 910

NSP-05
TECHNICAL STANDARDS FOR DETERMINING NECESSARY TECHNICAL CAPITAL AND GENERATION OF MORTALITY TABLES Approval: 02/02/2018 Validity: 09/02/2018
Annex No. 3
MORTALITY TABLES FOR DISABLED WOMEN MI M ES i = 6% AGE qx dx lx v^x Dx Nx 93 0.21825 9,670 44,308 0.00443154 196 650 94 0.23720 8,216 34,638 0.00418070 145 454 95 0.25753 6,804 26,422 0.00394405 104 309 96 0.27929 5,479 19,618 0.00372081 73 205 97 0.30251 4,277 14,139 0.00351019 50 132 98 0.32721 3,227 9,862 0.00331150 33 82 99 0.35339 2,345 6,635 0.00312406 21 49 100 0.38104 1,635 4,290 0.00294723 13 28 101 0.41011 1,089 2,655 0.00278040 7 15 102 0.44055 690 1,566 0.00262302 4 8 103 0.47224 414 876 0.00247455 2 4 104 0.50506 233 462 0.00233448 1 2 105 0.53884 123 229 0.00220234 1 1 106 0.57337 61 106 0.00207768 0 0 107 0.60840 27 45 0.00196007 0 0 108 0.64366 12 18 0.00184913 0 0 109 0.67881 6 6 0.00174446 0 0 110 1.000000.00164572 0 0