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 transfer values for non-Club transfers and pensions on divorce will change.
We have been asked to suspend cash equivalent transfer value (CETV) calculations until we get the new factors.
This means we won’t be able to:
- process new non-Club transfer in estimates
- finalise non-Club transfers-in following receipt of payment
- issue guaranteed CETV statements for non-Club transfers-out
- issue CETVs for pensions on divorce purposes
- implement pension sharing orders
Club transfers are not affected by this change.
We will share updates as they become available.