Following a change to the discount rate used for public service pension schemes that HM Treasury announced on 30 March 2023, the factors used to calculate the capitalised cost for redundancy and interest of efficiency of the service have changed. These will be implemented for all members with a payable date of 1 November 2023 or later. The redundancy calculator on our website is currently being updated for this change and the calculator, alongside the updated factors will be available to view on our website shortly.