Comparison Between Parametric Mortality Models for Old Age Mortality in Malaysia

An Unexpected increase in life expectancy and low mortality rates for old people has lead Malaysia to be an ageing nation. As the ageing issue has gained prominence as mortality rates, study on the mortality rates and modelling these rates is significant so that the government and private sectors can prepare immediately and adequately for the specific needs of the aged such as the health care and retirement plan. However, modelling the mortality rates for old age is challenging as the mortality data often exhibit irregular patterns due to randomness and uncertainties. Several mortality models have been formulated to model the death rates. This research applies seven mortality models to the Malaysian mortality data from the years 2010 to 2016. The results show that the model established by Khaliludin et. al (2021) significantly improves Malaysian mortality estimation for old age in terms of accuracy and prediction performance, as well as its ability to capture important mortality features such as accident hump, mortality crossover, and deceleration of mortality at old ages.