Traditionally rates of 5, 7, and 9% growth have been used to project growth rates for cautious, average and higher risk investors for cash and fixed-interest funds. Growth rate projections are extremely difficult to calculate without a crystal ball. The best predictor of future performance in most fields is past performance, but in investment this is very hard to justify.

In 2009, the FSA repeatedly warned pension providers to stop using the standard 5, 7, 9 per cent growth rates to project growth rates, stating that each provider should make and justify their own growth rates.  Over extended periods of time growth rates will have their ups and downs and average out. A good pension forecast is 8% p/a.