CO129-387 - Individuals - 1911 — Page 314

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present this fortunate condition, and hence, in

these cases, the only practicable course is to ascertain, from the experience, the indications of future mortality to which the facts appear to point, and then to select, for application, a standard of mortality, deduced from more extended and stable observations, obtained alsewhere, which seems to be in harmony, as closely as possible, with those in- dications, having regard to the respective condi- tions and circumstances of the particular Fund and the circumstances of the Funds, a Body of experiences, from which that selected standard has been formed. This forms a question, always of judgment and ex- perience, and, not infrequently, of perplexity. And here particularly enters into consideration (a point especially pertinent to the liong Kong Fund) the element of the rate of withdrawal of Members,

and the character and incidence of that withdrawal.

Individual secessions from membership may, obviously. benefit a Fund, but to perceive the general effect of this factor upon the stability of a Fund, atten-

tion must be directed to masses, and not units.

defection of large numbers from merbership during

the early years following medical selection on entry leaves the remaining mass detrimentally affected as to general prospects of longevity: the aggregate rate of mortality is thus augmented by the abstraction of vigorous lives. Hence (limiting my remarks here.to

the important class of married members) the general prospect of the prolonged payment of contributions

and of the deferment of the average period when the

reversionary

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