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Financial and demographic assumptions

Actuarial method

Where the attained age method has been adopted to calculate a standard contribution rate, select (A)

Yield curve valuations

Where this approach is used, provide estimated, single equivalent rates for all of the requested financial assumptions that give approximately the same answer as the yield curve approach. (NB: Providing spot rates at the duration of the liabilities would generally not be appropriate here.)

Horizon approach

Where this approach is used:

  • In place of pre-retirement, enter the long-term, post-horizon discount rate
  • In place of post-retirement, enter the short-term, pre-horizon discount rate
  • For pensioners, leave the discount rate blank (unless a separate discount rate is adopted).

RPI Inflation

Where indexation is in line with RPI inflation, please state the rate assumed. In situations where other forms of indexation apply, please state the rate of RPI inflation which is consistent with the assumptions used for the alternative levels of indexation. In situations where indexation is not inflation linked, please state the relevant rate of indexation and we would request that the Statement of Funding Principles is submitted in the 'supporting documents' section in order to provide further explanation of the scheme's circumstances.

CPI Inflation

Where indexation is in line with CPI inflation, please state the rate assumed. Where the scheme does not have any CPI inflation linked benefits then this input can remain blank.

Period and cohort

For an explanation of these terms (if needed), see

Expected age of death for future pensioners

For the expected age of death aged 65 at a date 20 years after the valuation date, assume that the member survives to age 65 (ie make no allowance for pre retirement mortality between 45 and 65).

Mortality assumptions

State the following:

  • The base mortality table with any adjustments (eg scaling or age rating);
  • Whether a period or year of birth approach has been adopted to allow for future improvements*;
  • Whether one of the standard cohort improvement factor tables has been adopted (state which one, when it applies from and whether it's adjusted, eg X% of long cohort); and
  • What floor to future improvements is adopted.

* If a period approach has been adopted, state what period. If a year of birth approach has been adopted, state what year of birth, eg individual or average year 19xx.