diff --git a/crates/vault-registry/src/lib.rs b/crates/vault-registry/src/lib.rs
index f07aca5b5c..5dc2072f93 100644
--- a/crates/vault-registry/src/lib.rs
+++ b/crates/vault-registry/src/lib.rs
@@ -801,8 +801,7 @@ impl<T: Config> Pallet<T> {
         // for `oldCol`, which takes into account pending issues and redeems
         let to_be_backed_tokens = Self::vault_to_be_backed_tokens(&vault_id)?;
         let global_secure_threshold = Self::get_global_secure_threshold(&vault_id.currencies)?;
-        let mut premium_redeem_rate = ext::fee::premium_redeem_reward_rate::<T>();
-        premium_redeem_rate = premium_redeem_rate.saturating_plus_one();
+        let premium_redeem_rate = ext::fee::premium_redeem_reward_rate::<T>();
 
         let required_collateral =
             Self::required_collateral(&vault_id, &to_be_backed_tokens, global_secure_threshold)?;