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Personal Injury Discount Rate
- Jan 17, 2024
- Latest Journal
The Personal Injury Discount Rate (PIDR) is an important mechanism in fulfilling the longstanding common law principle that when someone is wrongfully injured, they receive full damages, including for their future financial needs.
It is a percentage figure used to help calculate how much defendants have to pay in damages to claimants in serious, life-changing personal injury cases, when the damages are paid in the form of a lump sum. It is the duty of the Lord Chancellor under the Damages Act 1996 (the Act) to set the PIDR.
Part 2 of the Civil Liability Act 2018 (CLA) amended the Act to stipulate that the Lord Chancellor must conduct a review of the rate every five years. The CLA also specifies that an expert panel must be established to be consulted for each review.
Personal Injury Discount Rate: Expert Panel
Following the completion of a rigorous appointment exercise the Lord Chancellor has now appointed the following members to the PIDR Expert Panel:
- Charl Cronje as the member with experience as an actuary
- Donald Taylor as the member with experience of managing investments
- Dr Rebecca Driver as the member with experience as an economist
- Edward Tomlinson as the member with experience in consumer matters as relating to investments
In line with the provisions in the CLA the panel is chaired by Fiona Dunsire, the Government Actuary. Minutes of the Expert Panel meetings will be published on this page.