This note is provided for the Home Office (HO) as the responsible authority for the New Firefighters' Pension Scheme 2006 in England, and sets out the general method for assessing Public Sector Club transfer values (Club Transfers) and Statutory Cash Equivalent Transfer Values (CETVs) i.e. non-Club transfers.

This guidance relates only to benefits accrued under the New Firefighters' Pension Scheme 2006 (hereafter referred to as the NFPS). Some firefighters may also have benefits under the 2015 Scheme or the 1992 Scheme which should be dealt with separately according to the scheme guidance relevant to those schemes.

This note contains the guidance to be issued by the Scheme Actuary alongside the factors that are referred to in the regulations of The Firefighters' Pensions Regulations 2006.

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 method of calculation for Standard NFPS members and Special NFPS members where the member has completed full payment of contributions prior to the CETV calculation date is the same under this guidance note. The calculation method for Special NFPS members for whom only partial payment had been made at the calculation date differs.

In previous factors and guidance for statutory CETVs an adjustment was applied to Guaranteed Minimum Pension (GMP) to reflect the inflationary increases on the GMP, which were the responsibility of the State Scheme after GMP payment age. Following the requirement to equalise GMPs as set out in our letter "GMP Equalisation: Calculations involving actuarial factors", the GMP adjustment factor has been removed from the calculation methodology for all members reaching State Pension age after 6 April 2016 with effect from the date of receipt of this guidance note.

Any current cases where a Statutory CETV quotation is required for a member with GMP reaching State Pension age before 6 April 2016 should be referred to the Government Actuary's Department (GAD).