International Journal of Finance and Accounting 2017, 6(4): 111-115 DOI: 10.5923/j.ijfa.20170604.03 Forecasting Mortality Rate of a Ghanaian University Staff Superannuation Scheme Abigail Yeboah Boateng 1,* , Akoto Yaw Omari-Sasu 1 , Derrick Asamoah Owusu 1 , Maxwell Akwasi Boateng 2 1 Department of Mathematics, Kwame Nkrumah University of Science and Technology, Kumasi, Ghana 2 Faculty of Engineering, Ghana Technology University College, Ghana Abstract Longevity is an issue that has gained worldwide importance. For some time now, life expectancy is increasing rapidly and pension fund managers are on the lookout. This research sought to estimate mortality rate, measure longevity and forecast mortality rates of a Ghanaian University Staff Superannuation Scheme. This paper focused on Cairns-Blake-Dowd (2006) model and Holt’s linear trend method. Mortality rates were estimated by the application of the constant force of mortality. The quarterly mortality rates from 2005 to 2016 were estimated to be within 0.18% and 2.5%. Longevity was measured and was found to go with higher ages. Longevity for ages 80 and 90 in 2010 were 0.008015 and 0.008131 respectively. Mortality rates were forecasted at various alpha and beta values at a prediction interval of 95 percentage point. The forecasted mortality rates were shown to decrease with time within the range of 1.05% and 1.54%. Keywords Cairns-Blake-Dowd model, Forecasting, Holt’s linear trend method, Longevity, Mortality Rate 1. Introduction During the last hundred years, expectancy of life is on the rise from twenty-five (25) to thirty (30) year in most developed countries and this is good from human point of view. Money-connected institutions like pension houses, government pensions and life insurance companies have to face the risk of people living longer than expected. Longevity inherent on retirement and lifetime benefits plan made pension houses and insurers of life pay more than usual as was due to the rise in life expectancy according to Mircea et al (2014). Hence, regulations had to be put in place to keep a balance and take charge of the inherent risks in such plans. The special feature of such insurance products was their long term maturity. Longevity risk implied maturities could reach 50 to 80 years and involve various risks that were to be calculated carefully. From a financial and economic point of view, many improved systems such as retirement bill and the setup of long-term insurance care were introduced as a result of the ageing population. To control longevity, it was important to analyze the sequence of longevity on economic dependence. 1.1. Aims * Corresponding author: abby.boateng20@gmail.com (Abigail Yeboah Boateng) Published online at http://journal.sapub.org/ijfa Copyright © 2017 Scientific & Academic Publishing. All Rights Reserved A pension fund pay monthly pension benefit to each pensioner starting from the date of retirement and continues until death. The employer and the employee who will be the future beneficiary can finance the pension plan for the employee’s entire working period, however, any shortcomings of the pension funds in the future is normally the employer’s obligation. It is therefore important for the employer with high confidence and precision be able to predict the complete amount that will be needed to cater for future pension duties. Hence the main aim of this research is:  To estimate mortality rates  To measure longevity  To forecast future mortality rates. 1.2. Overview The importance and issue of longevity and the risk associated with it has gained international and worldwide recognition. The aggregate of longevity risk is its determined and unchangeable nature; Milevsky et al. 2006. In this research, we will use ‘the two factor stochastic’ mortality model of Cairns-Blake-Dowd (2006) model as the instrument to estimate mortality rates, measure longevity risk and use Holt’s linear method to forecast future mortality rates. 1.3. Related Works The Lee-Carter model was commonly used by a lot of people at various places for the careful study of longevity. An article in 2012 by Jindrová & Slavícek, dealt with the growth and the forth telling of life expected at pension by