Ultimate Forward Rate 2027 Calculation Euro Unchanged

EIOPA Media

Published March 30th, 2026

Detected March 30th, 2026

Summary

EIOPA published the annual Ultimate Forward Rate (UFR) calculation for 2027. The euro UFR remains unchanged at 3.30%. The Chinese renminbi UFR decreases by 15 basis points to 4.05%. This technical rate serves as a reference for insurance and pension liability calculations under Solvency II.

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What changed

EIOPA calculated and published the Ultimate Forward Rate for 2027 in accordance with the RFR Technical Documentation methodology. For the euro, the UFR is maintained at 3.30%, unchanged from 2026. The Chinese renminbi UFR decreased by 15 basis points to 4.05%. All other relevant currencies' UFRs remain unchanged from the previous year.

No immediate action is required by insurers or pension funds. This UFR calculation is used as a technical reference rate for insurance and pension liability valuations under the Solvency II framework. Compliance teams should update any internal documentation referencing UFR rates to reflect the 2027 figures when preparing annual reports or actuarial calculations.

Source document (simplified)

The European Insurance and Occupational Pensions Authority (EIOPA) published today the calculation of the Ultimate Forward Rate (UFR) for 2027.

For all relevant currencies, except for the Chinese renminbi (yuan), the UFR remains unchanged compared to the previous year.

Accordingly, the applicable UFR for the euro is maintained at 3.30% for 2027, while the UFR for the renminbi (yuan) decreases by 15 basis points to 4.05% for 2027.

The details of the calculation of the UFR for 2027 are available in the report on the calculation of the Ultimate Forward Rate for 2027.

The UFR was calculated in accordance with the methodology to derive the UFR (available in Annex E of the RFR Technical Documentation).

Go to the Report