Government starts discount rate review
The Ministry of Justice has confirmed the start of the 2024 review of the personal injury discount rate in England and Wales with a decision due no later than 11 January 2025.
The percentage figure is used to help calculate compensation in serious, life-changing personal injury cases, when paid in the form of a lump sum.
The actual amount people receive is adjusted for the interest they can expect to earn by investing it.
When the figure is positive the payout total is reduced to account for the interest expected to be earned but when negative the compensation is increased accordingly to counteract future losses.
Dual rates could increase complexity, cost and delay, none
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