The government’s actuarial department published the latest edition of the Ogden tables this week.
The main points to note about Ogden 7 are as follows:
- The 2.5% discount rate remains unchanged although the Lord Chancellor is currently reconsidering this. The new tables offer discount rates from -2.0% to 3%.
- The multipliers are based on updated mortality rates (2008).
- Interestingly the multipliers for retirement ages are still at 5 yearly intervals, with interpolation still required for those retiring at 66 or 67 etc.
- There have been some changes to the definition of disabled for the contingencies other than mortality.
Our free online Ogden calculator has been updated to reflect these changes.