On 19 May 2026, HM Treasury announced the latest review of the Scheme discount rate used for public service pensions. The current factors used to calculate transfer values and pension credits for divorce cases are to be withdrawn with immediate effect.
Until the new factors are received, we’re unable to:
- provide guaranteed transfer values for transfers out.
- provide Cash Equivalent Value (CEV) estimates for divorce proceedings.
- implement pension on divorce orders with a pension share date where the effective date of the divorce was on or after 19 May 2026.
If you have already received a guaranteed transfer value in relation to a prospective transfer-out, any request to proceed that is received within the three-month guarantee period will be honoured. All other cases will be put on hold until the new factors have been made available.
The announcement also means that the retirement factors for members are due to change. Therefore, any figures quoted are not guaranteed and final figures may differ.
Please keep checking our website for the latest update regarding factors.