Credibility study
\ˌkrɛdəˈbɪlɪti\ \ˈstʌdi\
An experience analysis of a pension plan’s (or an insurance book’s) historical longevity data used to adjust standard tables to bring them more in line with a pension plan’s observed experience.
Credibility theory is used to assess the statistical significance of any difference between the experience data set and the data underlying the standard table. This often leads to only partial recognition of any difference in experience when setting assumptions.