Pensions - discount rate

[gz2nyc]

This topic confused me a bit and someone please comment on if I have the logic correct.
Since:
Pension Expense = Service Cost + Interest + ….
and:
Service Cost = PV of projected
Interest = Prior Year PBO * Discount Rate
If:
Discount Rate assumption increases
Then:
PV of Service Cost will decrease
Interest will increase
However the decrease of Service Cost is greater than the increase of Interest, therefore reducing Pension Cost as a whole.
Is this correct?

 

[edmund_lord]

Schweser confirms what you just said but with an asterisk. The expception is that in very mature plans with a high discount rate. The net effect can come out opposite. If the employee has a short remaining service life the discount rate is not going to make that big of an impact on PV of post-retirement payments (PBO), but will increase the interest component with relative significance.