From 1 March, the factors used to calculate the value of transfers between public service pension schemes on a Club basis are changing.

The changes are technical in nature and remove the requirement to adjust transfer values for Guaranteed Minimum Pension (GMP) and National Insurance Modification (NI Mod).

Where a transfer completes outside the guarantee period (transfers-out) or the transfer-in is on or after 1 March 2017, members may experience a delay as values need to be re-calculated using the new factors.  

The new factors are available on our website (PDF, 1.2 MB) (This link opens in a new window).