Office of the Chief Actuary


Special-issue interest rates on new investments (percent)
Month 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
January 6.625 5.375 5.250 4.000 4.250 4.250 4.500 4.750 4.000 2.125
February 6.750 5.375 5.250 4.125 4.125 4.125 4.625 4.875 3.500 2.750
March 6.500 5.250 5.125 3.875 4.000 4.375 4.625 4.625 3.375 2.875
April 6.250 5.250 5.625 4.000 3.875 4.500 5.000 4.750 3.375 2.500
May 6.375 5.500 5.250 4.000 4.500 4.250 5.125 4.625 3.750 2.875
June 6.500 5.625 5.250 3.500 4.625 4.125 5.125 5.000 4.000 3.250
July 6.250 5.625 5.000 3.625 4.625 4.000 5.250 5.000 3.875 3.250
August 6.125 5.250 4.750 4.500 4.500 4.375 5.000 4.750 3.875 3.250
September 6.000 5.125 4.375 4.500 4.125 4.125 4.750 4.500 3.750 3.125
October 6.000 4.875 3.875 4.000 4.125 4.375 4.750 4.500 3.625 3.000
November 5.875 4.500 4.125 4.375 4.125 4.625 4.625 4.500 3.750 3.125
December 5.625 5.000 4.500 4.375 4.375 4.625 4.500 4.000 2.750 2.875
Average 6.240 5.229 4.865 4.073 4.271 4.313 4.823 4.656 3.635 2.917


Month 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
January 3.500 2.875 1.500 1.500 2.500 2.125 2.250
February 3.125 2.875 1.500 1.625 2.250 1.625 1.875
March 3.125 3.000 1.625 1.500 2.250 1.875 1.750
April 3.375 3.000 1.875 1.500 2.375 1.875 1.750
May 3.250 2.875 1.625 1.375 2.375 2.000 1.750
June 2.875 2.500 1.375 1.750 2.250 2.000 1.875
July 2.625 2.625 1.375 2.125 2.250 2.250 1.500
August 2.500 2.250 1.250 2.125 2.375 2.125 1.500
September 2.125 1.875 1.250 2.375 2.125 2.125 1.625
October 2.125 1.625 1.375 2.250 2.375 2.000
November 2.125 1.750 1.375 2.125 2.125 2.125
December 2.375 1.750 1.375 2.250 2.000 2.125
Average 2.760 2.417 1.458 1.875 2.271 2.021 NA NA NA NA

Note: The current formula for determining special-issue interest rates became effective with the October 1960 rate. Under this formula, the highest interest rate is 15.250 percent (Oct 1981) and the lowest rate is 1.250 percent (Aug 2012, Sep 2012). See table for 1937-1999 interest rates.