The study focusses on the question of how the discount rate of pension fund obligations should be determined in the context of a negative interest rate environment. Specifically, the report answers the following questions: What does IPSAS say about the applicable interest rate? What scope do the specifications of IPSAS offer? / What are the interim results in the IASB projects at the discount rate (discount rate) and negative interest rates in this context? / And if both variants are possible, which requirements apply in each case?