Information on Discount Rates for Liabilities

Dear Sir,

When the GAD calculates the present value of liabilities such as
state employee pensions, or the state pension it makes assumptions
about the discount rate it will use. For example I believe it
currently uses a discount rate 3.5% a year over price inflation.

However, since there are no assets to back up these liabilities,
there is a question over whether or not using a premium over RPI is
a relevant approach to use.

Clearly as actuaries you would have questioned which discount rate
to use to present value these liabilities.

My request is then for any documents that discuss which discount
rate to use, and documents relating to establishing which was
selected and why.

Yours faithfully,

Nick Leaton

Dear Mike Gerli,

Thank you for your reply. I'm not sure that it does answer the FOI
request, so I'll put together a longer reply as to why.

In the meantime, in my last FOI request on the matter you stated
that the figures for state employee pensions were embargoed because
they were due to be released this year (2009).

Can you tell me the publication date and where to find the number,
if it has been published?

Yours sincerely,

Nick Leaton