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which may lead to differences between the final calculation and estimate quotes which used factors that have since been superseded.
The latest factors for all calculations is provided in an Excel document – Latest Scheme Factors.
The scheme actuary is in the process of providing updated guidance and example documents referring to the latest factors. In the meantime, the following links can be used but please note the guidance and examples use the old factors.
Additional Pension
Buy Out
Faster Accrual
Outstanding contributions in respect of Past Added Years - additional Family Benefits contracts
Early Retirement
Late Retirement
Premature Retirement
Lump Sum Conversion
Trivial Commutation
Purchasing additional benefits for dependents
Cash Equivalent Transfer Value
Transfers-in on a non-Club basis
Club memorandum plus Scheme specifics
For more information please visit the website below:
http://www.civilservicepensionscheme.org.uk/
Pensions on divorce
Pensioner cash equivalents on divorce
Factors for members making a scheme pays election before 16 March 2016.
Scheme pays election
Guidance for members in the Final Salary 2010 arrangement making a ‘scheme pays’ election on or after 16 March 2016
Final Salary election
Guidance for members in the Career Average 2015 arrangement making a ‘scheme pays’ election on or after 16 March 2016.
Career Average election
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
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