Factors and Guidance

This section has been created so you can easily access all information required regarding the various factors used within the Teachers' Pensions Scheme.

As well as providing the factors we've received, we have also identified those we're still waiting for.

Please be advised that factors are subject to change. Teachers’ Pensions will use the factor that is in effect at the date of our final calculation, which may lead to differences between the final calculation and estimate quotes which used factors that have since been superseded. 

Flexibilities

Additional Pension

Buy Out

Faster Accrual

Outstanding contributions in respect of Past Added Years - additional Family Benefits contracts

Retirement

Early Retirement

Late Retirement

Premature Retirement

Lump Sum Conversion

Trivial Commutation

Family Benefits

Purchasing additional benefits for dependents

Transfers

Cash Equivalent Transfer Value

The factors should be used and read in conjunction with the guidance notes

Transfers-in on a non-Club basis

The factors should be used and read in conjunction with the guidance notes

Club memorandum plus Scheme specifics

For more information please visit the website below:

http://www.civilservicepensionscheme.org.uk/

Divorce

Factors to calculate a pension credit in the Teachers' Pension Scheme

Pensions on divorce Factors

The factors should be used and read in conjunction with the guidance notes

Factors to calculate a pensioner cash equivalent in pensions on divorce cases

Pensioner cash equivalents on divorce 

Annual Allowance - Scheme Pays

Factors for members making a scheme pays election before 16 March 2016.

Scheme pays election

Factors for members in the Final Salary 2010 arrangement making a ‘scheme pays’ election on or after 16 March 2016

Final Salary election

The factors should be used and read in conjunction with the guidance.

Factors for members in the Career Average 2015 arrangement making a ‘scheme pays’ election on or after 16 March 2016.

Career Average election

The factors should be used and read in conjunction with the guidance.

Lifetime Allowance

This guidance relates to members who exceed the Lifetime Allowance (LTA), giving rise to a tax charge paid by the Teachers' Pension Scheme, where the LTA reduction is calculated on or after 1 June 2016. The member’s benefits are reduced in accordance with factors based on the person’s age at the payable date.

Where an LTA reduction is calculated on or after 1 June 2016