Updated calculation factors

On 27 May 2026 we published a news item detailing the change to the Superannuation Contributions Adjusted for Past Experience (SCAPE) discount rate, and its impact on the Local Government Pension Scheme while we were waiting for revised calculation factors from the Government Actuary Department (GAD).

In summary:

• Some transfer calculations had to be temporarily suspended.
• All cash equivalent transfer value (CETV) requests for divorce purposes were also temporarily suspended.
• We continued to provide retirement estimates using the previous factors, while awaiting revised factors from GAD. Anyone who received an estimate during this period for either an early or late retirement may receive a different final pension amount when their pension is put into payment.

Update July 2026

GAD have now issued the revised factors, and these have been implemented into our administration system. This means:

• Transfer calculations and CETV calculations for divorce purposes have recommenced.
• New retirement estimates are now prepared using the latest factors. Therefore, the final pension amount put into payment is likely to be closer to an estimate which has been based on the revised factors.
  
• The benefit calculators on My Pension Online have been updated and now use the latest factors.