As I understood it, some financial economists claim that there is no such thing as an equity risk premium over bonds. At its simplest, they state that any additional return is wholly counterbalanced by the risk. However, during an Institute of Actuaries seminar held on 18 May 2000, a “financial economist actuary” stated that there can be an allowance for an extra return. This material has been moved to discount rates, dealing with DVR from a different angle.

An interactive chart shows risk premia by start year (upper slider) for sub-periods of between 10 years and 15 years (lower slider). This can be toggled by asset category. Start year plus period cannot exceed 2022.