Each year we update our actuarial factors to make sure they’re actuarially equivalent, so the cost to us of providing each member's compensation is the same regardless of the choices they make.
Running a pension scheme can be complex and challenging. This is particularly true where the employer is in difficulty. It's important that as a trustee, you understand the sorts of challenges you’ll face when there’s an increased risk of your employer going bust. So we've published a new guide, Contingency planning for employer insolvency, to help you.
Paragraphs 26 and 27 of Schedule 7 of the Pensions Act 2004 set out the circumstances in which the compensation cap applies and how and when it should be increased. In July 2021 the Court of Appeal ruled the PPF compensation cap was unlawful on the grounds of age discrimination, so we’re no longer applying it and we’re removing it from affected PPF pensioners. The information below is provided for advisers who still need to refer to previous calculation tables and factors.
Read how changes to our retirement factors coming in October 2025 may affect your retirement.
You need to allow cookies to view this video. Click the below link to manage your cookie settings and select "Targeting Cookies" on the left hand side.
