Annual factors update for PPF members

We use retirement factors to work out how much we’ll pay you if you retire early, late or take a lump sum payment.  
 
We review our retirement factors regularly. If financial conditions change a lot, we may update them and we have done this in previous years, typically from 1 October, with retirement quotes available on the new basis from 1 July (i.e. three months ahead of the change itself). We look at things like changes in financial markets and how long people are living.   
 
We’ve reviewed our retirement factors and decided not to change them at this time, as financial conditions have broadly stayed the same. We’ll review our retirement factors again, next year.  

Whilst we have decided not to change our retirement factors, there are other changes expected that will impact retirements for some PPF members, but also members of the Financial Assistance Scheme (which is administered by the PPF). This is because in April 2026, Parliament passed law allowing the payment of inflation increases on PPF compensation and FAS assistance built up before 6 April 1997, where the former scheme allowed for mandatory increases. Members can log into our PPF member website for information on how these changes impact retirements for eligible members who haven’t yet retired.

What to do next if you’re considering retiring 

If you’re considering retiring, you should think about your individual circumstances.  
 
If you’re 55 or over, you can log in to our PPF member website and use our online ‘Quote and Retire’ service to see how much you might get.  

You can also contact us directly to request retirement quotes.  

You might want to get financial advice, which isn’t a service we’re able to provide. The Financial Conduct Authority (FCA) has a register of authorised financial advisers.  

You should also make sure your details are correct. Your figures could change if the information we hold about you is wrong. 

If you’re a financial adviser, you may find it helpful to view our current factors.