Valuation Age: The valuation age is usually taken as either the nearest age or the age last birthday at the date of valuation. The former would appear to be the more reasonable method as annuity rates are frequently quoted for half ages or even quarter ages.

Grouping (Single Lives): For valuation purposes the annuities are grouped according to the office dates of birth, calculated to give the valuation age on the assumption chosen. Sub-grouping may be necessary to facilitate selection being taken into account if considered desirable.