The new Ogden 8 tables have been published based on ONS 2018-based population projections for Claimants who reach their current age at an assumed 2022. Ogden 7 was based on ONS 2008-based population projections for Claimant who reach their current age at an assumed 2011.
‘Perhaps the most significant development in the 8th edition is the provision of several new tables. The Additional Tables allow for the calculation of multipliers from any age at trial to any future age (up to age 125). They were initially suggested by William Chapman (barrister at 7 Bedford Row). These Additional Tables will be published only on the Government Actuary’s Department website in Excel format….
The key advantage of the Additional Tables is that they allow for accurate interpolation and calculation of split multipliers, especially for retirement ages that are not contained within the main Ogden Tables. Practitioners may find the Additional Tables quicker and easier to use, especially when calculating split multipliers. It should be noted that the multipliers derived from the Additional Tables are more accurate and reliable – and should be treated as definitive – than other previous methods of interpolation such as using the apportionment method.’
The additional tables have been published here.
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