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Pursuant to the Judgment Interest Act, interest is almost always awarded on non-pecuniary damages for pain, suffering and loss of enjoyment of life, loss of consortium, loss of the ability to perform household services, and on pecuniary damages for expenses that have been incurred and for past loss of income and household services.
The interest is calculated at the rate of 4% per year on non-pecuniary damages and at the rate prescribed by regulation on pecuniary damages (for example, 5.25% in 1995, 5.5% in 1996, 3.5% in 1997 and 1998, 4% in 1999, 6.25% in 2000 and 2001, 5.25% in 2002, 4.5% in 2003, 3.75% in 2004, 3.4% in 2005, 3.5% in 2006 and 4.0% in 2007). The interest is not compounded.
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