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The personal injury discount rate (PIDR) is applied in the assessment of a lump-sum award for future financial losses, including future care costs, paid to a person who has suffered significant personal injuries. In practical terms, the lower the PIDR, the higher the lump sum payable to the claimant.
2024
15 Jul 2024
Next formal review of the discount rate in England and Wales must begin by this date
9 April 2024
Second Call for Evidence on the PIDR in England & Wales closed
16 January 2024
Second Call for Evidence on the PIDR in England & Wales launched
2023
End of 2023
Scottish Government and the Department of Justice in Northern Ireland to publish separate responses following a joint request for views on the PIDR systems published in June
Dec 2023
Second Call for Evidence on the PIDR in England & Wales expected
28 Nov 2023
MoJ hosts PIDR stakeholder event
Nov 2023
PIDR in the Isle of Man increases from -0.25% to +1.%
11 Sep 2023
MoJ publishes its response to the PIDR Call for Evidence launched in January 2023
11 Jul 2023
Devolved administrations’ joint call for views closes
Jun 2023
Devolved administrations launch joint call for views on the PIDRs in Scotland and Northern Ireland
11 Apr 2023
Call for evidence in England and Wales closes
17 Jan 2023
Ministry of Justice issues a call for evidence on the introduction of dual or multiple rates in England and Wales
2022
22 Mar 2022
Northern Ireland discount rate of -1.5% comes into effect
2 Feb 2022
In Northern Ireland, the Damages (Return on Investment) Bill receives Royal Assent
2021
31 May 2021
Department of Justice in Northern Ireland brings forward secondary legislation changing the rate, on an interim basis, to -1.75%
2020
Jun-Oct 2020
Public consultation seeking views on how the rate should be calculated in Northern Ireland
2019
28 Sep 2019
Deadline for the Government Actuary Department to recommend a new discount rate in Scotland
27 Sep 2019
The Government Actuary announces that the discount rate in Scotland is to remain at -0.75%
5 Aug 2019
New discount rate of -0.25% in force in England and Wales
15 Jul 2019
Lord Chancellor announces the new discount rate of -0.25% in England and Wales
24 Apr 2019
Damages (Investment Returns and Periodical Payments) (Scotland) Act 2019 receives Royal Assent – starting the process for the discount rate review in Scotland
19 Mar 2019
Commencement of the first discount rate review in England and Wales
Feb 2019
Damages (Jersey) Law in force – introduced a new dual discount rate in Jersey
30 Jan 2019
End of ‘call for evidence’ on setting the new discount rate in England and Wales
2018
20 Dec 2018
Civil Liability Act 2018 receives Royal Assent – starting the process for the first discount rate review in England and Wales
6 Dec 2018
Commencement of ‘call for evidence’ on setting the new discount rate in England and Wales
2017
11 May 2017
End of consultation on how the discount rate should be set in the future
30 Mar 2017
Commencement of the consultation on how the discount rate should be set in the future in the United Kingdom
20 Mar 2017
Discount rate is reduced to -0.75% for Great Britain (Northern Ireland continues to apply the rate of 2.5%)
2013
7 May 2013
End of consultation on the review of the Damages Act 1996 and the discount rate review framework in the United Kingdom
17 Feb 2013
Commencement of consultation on the review of the Damages Act 1996 and the discount rate review framework in the United Kingdom
2001
2001
Discount rate is set at 2.5% for the United Kingdom
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