Experience analysis
\ɪkˈspɪriəns\ \əˈnæləsəs\
An assessment of actual mortality rates of a group of lives against those predicted by a prior mortality assumption (such as a traditional table or a multi-factor model such as VitaCurves).
Under a “lives based” analysis, the number of deaths over the assessment period will be compared to the number of deaths predicted by the prior mortality assumption. The actual number of deaths divided by the expected number of deaths (or A/E), expressed as a percentage, indicates whether the mortality rate has been heavier (A/E is > 100%) or lighter (<100%) than predicted.
An “amounts based” analysis is the same calculation but comparing actual and expected pensions ceasing due to death.