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GLOSSARY

Discount rate definition

Published by a LexisNexis Pensions expert

What does Discount rate mean?

The rate of interest used to find the present value of a future cash flow.

If the discount rate used in a pension fund is a high one (ie the actuary thinks the pension fund will perform well in the future), the amount of money needed today is less. A discount rate reduces the current value of a future liability amount by recognising that investment returns or interest over time will help repay the liability. The discount rate used is often related to the assumed rate of return on bond yields.

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Claims involving serious brain injuries

Claims involving serious brain injuries NOTE: On 2 December 2024, the Lord Chancellor announced that the discount rate would change to positive 0.5%. The positive 0.5% discount rate is effective from 11 January 2025. Schedule A1 to the Damages Act 1996 provides that subsequent reviews are to take place within five years of the conclusion of the previous review which means that the next review must commence on or before 2 December 2029. For further guidance on serious brain injuries, see Practice Notes: Valuing serious brain injury claims and Rehabilitation in serious brain injury claims. Causes of a serious brain injury Serious brain injuries can occur due to a number of causes including trauma, deprivation of oxygen, infection, hydrocephalus, encephalitis, brain tumours, stroke, toxicity, degenerative disorders, metabolic and endocrine dysfunction and nutritional deficiencies. The first seven of these causes are explained in more detail below as they may give rise to the basis of a clinical negligence or a personal injury compensation claim. Traumatic brain injury...

Cost of accommodation

Cost of accommodation NOTE: On 2 December 2024, the Lord Chancellor announced that the discount rate would change to positive 0.5%. The positive 0.5% discount rate is effective from 11 January 2025. Schedule A1 to the Damages Act 1996, as inserted pursuant to Part 2, section 10 of the Civil Liability Act 2018, provides that subsequent reviews are to take place within five years of the conclusion of the previous review which means that the next review must commence on or before 2 December 2029. Which accommodation costs can be claimed? An accident may affect a disabled claimant’s accommodation needs in several ways: • adaptation of existing or future accommodation may be required • there may be additional running costs • in serious cases, the claimant’s injuries may justify rehousing in more suitable accommodation Where the claimant’s injuries do justify rehousing, the most contentious question becomes (particularly on or after 11 January 2025) how the extra capital cost of the accommodation is to be measured in the...

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Schedule of loss & dependency in a fatal accident claim

Schedule of loss & dependency in a fatal accident claim [IN THE COUNTY COURT AT [INSERT] OR IN THE HIGH COURT OF JUSTICE] [ [Specify division] ] [ [Insert location] DISTRICT REGISTRY ] Claim No: Between AB Claimant (the Widow and Executrix of the estate of A, deceased) and C Limited Defendant NOTE: On 2 December 2024 the Lord Chancellor announced that the discount rate would change to positive 0.5%. The positive 0.5% discount rate is effective from 11 January 2025. Schedule A1 to the Damages Act 1996 provides that subsequent reviews are to take place within five years of the conclusion of the previous review which means that the next review must commence on or before 2 December 2029. The Claimant reserves the right to alter, amend or add to this schedule at any time up to and including trial. Background data Deceased’s date of birth [date] Claimant’s date of birth [date] Claimant and deceased marry [date] First child [name] born [date] Second child [name]...

Schedule of loss—multi track

Schedule of loss—multi track [IN THE COUNTY COURT AT [INSERT] OR IN THE HIGH COURT OF JUSTICE] [[SPECIFY DIVISION]] [[INSERT LOCATION] DISTRICT REGISTRY] Claim No: Between [Insert name] Claimant and [Insert name] Defendant ________________________________________________ SCHEDULE OF LOSS CALCULATED TO [INSERT DATE OR INSERT THE DATE OF TRIAL] ________________________________________________ NOTE: On 2 December 2024 the Lord Chancellor announced that the discount rate would change to positive 0.5%. The positive 0.5% discount rate is effective from 11 January 2025. Schedule A1 to the Damages Act 1996 provides that subsequent reviews are to take place within five years of the conclusion of the previous review which means that the next review must commence on or before 2 December 2029. The Claimant reserves the right to alter, amend or add to this schedule at any time up to and including trial. A. BACKGROUND DATA Claimant’s date of birth: [insert date of birth eg 25 August 1986] Date of accident: [insert date of accident eg 16 April 2018] Claimant’s age at...

Dive into our 2 Precedents related to Discount rate

Transitioning out of LIBOR—what is the impact for trade and export finance?

Banking and Finance analysis: A transition away from LIBOR is expected by the end of 2021. This transition involved several challenges, notably for trade and export finance. Geoffrey Wynne, partner at Sullivan & Worcester, shares his analysis on the impact of transitioning out of LIBOR for trade and export finance.

Lexis®PSL Dispute Resolution weekly highlights—2 March 2017

Welcome to the weekly highlights from the Lexis®PSL Dispute Resolution team for the week ending 2 March 2017. In this week’s edition, we feature the forthcoming changes in respect of trial fees, the new Media and Communications List and what we’ve learned about the online court from the Prisons and Court Bill. We also highlight the latest Dispute Resolution News Analysis on a broad range of topics, including: inducing breach of an exclusive jurisdiction clause (Supreme Court in AMT Futures); reputational damage and non-party appeals (Court of Appeal in Gray); costs (Rezek-Clarke); settlement (Tchenguiz); and strike out (Harb). For those litigating in the TCC, don’t miss Mr Justice Coulson’s guidance on lodging skeleton arguments in respect of some applications. We also highlight relevant News Analysis from other Lexis®PSL practice areas, a new Practice Note and recent substantive amendments to our core content, and the latest Q&As. All this, and more, in our weekly highlights.

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