Suspension of certain calculations involving actuarial factors
In the budget on 29 October 2018, HM Treasury announced a revision to the basis for the calculation of Cash Equivalent Transfer Values (CETVs) payable from public service pension schemes, which includes the NHS Pension Scheme.
The impact of the review is that the factors used by NHS Pensions to calculate CETVs will change. This may affect you if you have requested a CETV statement because you are:
- Getting divorced, or
- Transferring your NHS Pension Scheme benefits to another pension scheme
This may also affect you if you have requested a transfer in to the 1995/2008 or 2015 Scheme, and the transfer payment was not received before 29 October 2018.
We are currently assessing the impact of the review which means that any transfer requests affected by the changes detailed above are currently on hold. Please be aware that this may increase the time taken to respond to your request.
Further information regarding the changes to other factors will follow in due course.