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Technical Guidance 

This section contains up to date technical guidance issued by the Pension Protection Fund.  Guidance for Trustees is available in a separate section.

Valuation Guidance and Statements
Compensation Cap Factors
Commutation Factors
Early Retirement Factors
Late Retirement Factors 
Step-down Factors
Guaranteed Minimum Pensions (GMPs)

The PPF has also issued a revised note (July 2018) providing some general information on the calculation of the factors.

You may also wish to view guidance and factors that were valid for previous periods. Please use the links below:

Valuation Guidance valid for previous periods
Compensation Cap Factors valid for previous periods
Commutation Factors valid for previous periods
Early Retirement Factors valid for previous periods
Late Retirement Factors valid for previous periods


Guidance on GMP Reconciliation

The PPF has issued a guidance note on the completion of the reconciliation of a scheme’s membership records & GMP amounts with NISPI’s records.


Technical News

Technical News - Issue 10, was published on 29 June 2018.
Technical News - Issue 9, was published on 5 July 2017.
Technical News - Issue 8, was published on 8 August 2016. This edition looks at new regulations for schemes that enter assessment, early retirement due to ill health and the updated actuarial factors.
Technical News - Issue 7, March 2015
Technical News - Issue 6, September 2014

Technical News - Issue 5, June 2014
Technical News -  Issue 4, November 2013
Technical News -  Issue 3, March 2013
Technical News - Issue 2, November 2012
Technical News - Issue 1, February 2010  


Funding Determination and Reconsideration Process Calculations Documents Published

On 21 September 2012, the PPF published published formal Statements setting out the detail of the new funding determination and reconsideration process calculations. The corresponding template certificates that must be completed for providing estimates to the PPF were also published.

All of these are available on the Valuation Guidance and Statements page.

Earlier in September, the PPF had published its Response to the July 2012 consultation on Funding Determinations and amendments to section 151 in Miscellaneous Regs.

This followed the July 2012 consultation document: Consultation on Funding Determinations and amendments to section 151 in the Pension Protection Fund (Miscellaneous Amendments) Regulations 2012.