The circumstances in which commutation is possible are set out in Regulation 19 of the Pension Protection Fund (Compensation) Regulations 2005.
And how this option may be exercised is set out in Regulation 21 of the same regulations.
The amount of lump sum payable, per £100 of compensation given up, is set out in the following table:
For retirements on or after 1 October 2020, the factors in the below table will apply.
You can also view commutation factors for previous periods.
Please note: From time to time we review commutation factors, which may be changed without notice.