Projected Unit Credit Valuation | |||||||||||||
U.K. | Non-U.K. | ||||||||||||
2017 | 2016 | 2015 | 2017 | 2016 | 2015 | ||||||||
% | % | % | % | % | % | ||||||||
Discount rate | 2.40 | 2.60 | 3.70 | 3.60 | 4.20 | 4.50 | |||||||
Retail Price Inflation | 3.10 | 3.20 | 3.00 | — | — | — | |||||||
Inflation related assumptions: | |||||||||||||
Salary inflation | n/a | n/a | 4.00 | — | — | — | |||||||
Consumer Price Inflation | 2.10 | 2.20 | 2.00 | — | — | — | |||||||
Pension increases—pre 6 April 1997 | 1.90 | 2.00 | 1.80 | — | — | — | |||||||
—1997 - 2005 | 2.10 | 2.20 | 2.10 | — | — | — | |||||||
—post 5 April 2005 | 1.70 | 1.80 | 1.70 | — | — | — | |||||||
2017 | 2016 | ||||
Other principal actuarial assumptions: | Years | Years | |||
Life expectancy of male / female in the U.K. aged 65 at accounting date | 21.6 / 24.6 | 21.5 / 24.5 | |||
Life expectancy of male / female in the U.K. aged 65 at 20 years after accounting date | 23.3 / 26.5 | 23.2 / 26.4 | |||