This note is provided for the Home Office (HO) as the responsible authority for the Firefighters' Pension Schemes in England. This note relates to cash equivalent transfer values payable or receivable in accordance with the 2015 Scheme Regulations. The document sets out the general methods for assessing Statutory (non-Club) cash equivalent transfer values and the benefits to be provided in respect of incoming (non-club) CETVs.

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 Secretary of State, as responsible authority under the Public Service Pension Act 2013, is required under the Firefighters' Pension Scheme (England) Regulations 2014 to issue actuarial guidance on cash equivalent transfer values.

The responsible authority is required to consult the scheme actuary before issuing actuarial guidance under the 2015 Scheme Regulations.

As part of this consultation the responsible authority has asked GAD, as scheme actuary, to recommend actuarial guidance in respect of the regulations detailed below. This document forms GAD's recommendation for the actuarial guidance required by these regulations.

This document does not cover Club transfers or details relating to calculation and application of CETVs on divorce.

This guidance relates only to benefits accrued under the 2015 Scheme Regulations. Some firefighters may also have benefits under the 1992 Scheme or the New Firefighters' Pension Scheme which should be dealt with separately according to relevant scheme guidance.