Abstract
This chapter discusses life and pensions in the United Kingdom. Pension's practioners have formed their own institutes. Even on the practical side, there are overlaps caused by life insurance companies selling pension products, indeed, the majority of self-employed pensions are marketed by life insurance companies. The lives insured by a particular life office are a selection from the population of the country as a whole. They may well exhibit different features from those of the remainder of the population. If it is practicable, a life office will construct a mortality table based upon its own experience. This is not usually possible and standard mortality tables are used. In the case of pension funds, a table based on the general population may be most appropriate. Life offices on the other hand are likely to require a table based on the mortality experience of other life offices. The standard tables are only guides, and individual offices may exhibit a markedly different experience.
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