Fifteen years have elapsed since the previous paper on this subject was read before the Institute, and it seems desirable to review the subsequent progress and to consider the present position in the light of the investigation into Annuitant Mortality just completed on behalf of the Institute and the Faculty of Actuaries.

It is not intended to deal with the matter in such full detail as on the last occasion, but to refer only to the more salient features—and even to those, more briefly.