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Pecuniary damages – Ontario rates for 2013
September 13, 2012
The discount rates for the calculation of awards for future pecuniary damages in Ontario with a 2013 year of valuation will be -0.50% per year for the first 15 years and 2.50% per year thereafter. (They are currently 0% and 2.5%, respectively, for 2012 valuations.)
Two illustrations of the impact of a lower select rate:
- The present value of future indexed annual payments over the next 15 years to a 50 year old male or female will be 3.8% greater based on the 2013 rates than the 2012 rates.
- The present value of future indexed annual payments over the next 30 years to a 35 year old male or female will be 5.6% greater based on the 2013 rates than the 2012 rates.
The longer the duration of the payments, the greater the impact.
A history of the discount rates and gross up rates since year 2000 are available on the website of the Ontario Ministry of the Attorney General at the following link: