This guidance is addressed to the Cabinet Office as Scheme Manager of the Principal Civil Service Pension Scheme (PCSPS).

This guidance provides advice on the application of early retirement, age addition and late payment supplement factors, as relevant for members of classic, classic plus, premium and nuvos.

Members of classic plus have accrued some of their benefits in classic and some in premium. The classic and premium factors should be applied as described to the appropriate tranche of the classic plus members' benefits.

There are no increases on late retirement in classic, classic plus or premium, except in respect of added pension in active service.

Please refer to the Early Retirement - classic, premium and nuvos section for early retirement calculations involving members with personal pension ages (i.e. classic and premium members with a Normal Pension Age (NPA) that is not 60 or 65 years).

The following changes have been made when reviewing this guidance:

• Important information around the expected audience for the guidance, use of the guidance, review of factors, compliance and limitations applies across all sets of guidance. Rather than being repeated in each set of guidance, this can now be found on the scheme home page. It is important to read this information alongside the guidance.
• Calculation methodology: No changes have been made to the calculation methodology.
• Examples: There are no examples in this guidance. Worked examples, using the calculation methodology, can be found in prior versions of the guidance (though please note that these use historic factors).
• Factor tables: The "Factor Tables" tab contains the names of the tables that are referenced in the calculation methodology. The tables of factors themselves can be found in the most recently published "Consolidated Factors Workbook" which is available by clicking the "Download current Consolidated Factors Workbook" button on the scheme's home page.
• Assumptions: The key assumptions underlying the factors in each note are contained in the Consolidated Factors Workbook.
• Regulations: The regulations that require the production of the actuarial factors and/or guidance that is the subject of this note are summarised in the "Regulations" tab.

The actuarially reduced pension and lump sum on early retirement are based on the preserved pension and lump sum before the addition of any pension increase. Late payment supplements on pension and lump sum are based on the preserved pension and lump sum before the addition of any pension increase.