A pension is a voluntary benefit offered by employers to assist employees in providing for their financial security in retirement. Public and private sector defined benefit pension plans are subject to different rules and guidance regarding discount rates -- interest rates used to determine the current value of estimated future benefit payments. This book addresses the significance of differences in approaches used to determine discount rates among public and private plans; purposes for measuring the value of a plan's future benefits and key considerations for determining discount rate policy; and approaches selected countries have taken to choose discount rates.