In May there was a change in the discount rate used for public service pensions. New factors have now been provided by the Government Actuaries Department (GAD) for Cash Equivalent Transfer Values (CETVs), which are used to estimate the value of pensions during divorce proceedings.

There have been updates made to: Pensioner cash equivalents, Pension Credits and Pension Debits factors.

We’ll now be dealing with outstanding member cases, which were on hold until the new factors were received, in order of receipt.

Currently other factors remain the same but are subject to an ongoing review by GAD. The next batch of updated factors is expected to be provided to us shortly, which will focus on factors related to:

• Early retirement, 
• Late retirement 
• Trivial commutation
• Inverse commutation
• Added pension
• Added years reduction. 

To stay updated on the latest news about these factors, please check our website (This link opens in a new window) and social media channels.