The factors used in the Factor Tables are unisex factors.
The ages in use in the Factor Tables are based on the member's age at retirement in years and complete months. Part months are ignored.
Before using the factors, the member's pension should have the relevant increases applied from the date of leaving the scheme until the date of early/late retirement.
To calculate a reduction or increase to pension, the factor at early/late retirement age should be divided by the factor at the default pension age. This is then multiplied by the unadjusted pension to calculate the adjusted pension.
These factors are not applicable for the uplift required to AFPS15 pensions that come into late payment when an active member leaves service after NPA 60 (such factors are provided separately). These factors are applicable for the following AFPS15 cases:
- where a member leaves service at NPA 60 and delays receipt of their pension;
- where a deferred member delays receiving their pension beyond their Deferred Pension Age ("DPA"). To calculate the LRF, their default pension age will, for this purpose, be their DPA; and
- where an active member, who has served beyond NPA 60, then delays taking their pension immediately on exit. To calculate the LRF, their default pension age will, for this purpose, be the age at which they left service.
- to adjust Added Pension as in the case in the subsequent paragraph below.
To adjust the Added Pension upon a member leaving service with only entitlement to deferred benefits (no EDP entitlement), divide the factor at the member's DPA by the factor for Age 60 years and 0 months and multiply the result by the Added Pension amount.
Pensions payable to a member's spouse, civil partner, other adult dependant and/or eligible children should not be reduced/increased.
These factors should not be used for adjusting pension debits or credits or for Scheme Pays adjustments.
The factors used in the Factor Tables are unisex factors.
The ages in use in the factor tables are based on the member's age at retirement in years and complete months. Part months are ignored.
Before using the factors, the member's lump sum should have the relevant increases applied from the date of leaving the scheme until the date of early retirement.
On early retirement, the members' lump sum should be multiplied by the relevant factor.
These factors should not be used for adjusting pension debits or credits or for Scheme Pays adjustments.
