Tue, 21 Jul 2020
After nearly 10 years since Ogden 7 was released, the Government’s Actuary Department has published a new edition of the Ogden Tables.
The 8th Edition of Ogden Tables is now available https://www.gov.uk/government/news/gad-publishes-8th-edition-of-the-ogden-tables
Personal Injury barristers Paul Evans and Alex Mellis will write an article in due course considering the changes, but by way of a headline note, the key changes are:
1. Life Expectancy and consequently multipliers are reduced because mortality has not improved as much as was predicted. Future losses will therefore be lower than when using Ogden 7.
2. New retirement ages. There are additional tables for ages 68 and 80 reflecting the realities of longer working lives and pension ages.
3. More detailed and updated explanatory notes, in particular on the contingency factors and the meaning of “disabled”.