This note is provided for Scottish Public Pension Agency (SPPA) as scheme manager of the Firefighters' Pension Scheme 1992 in Scotland and sets out the general method for calculating:
- a cash equivalent for a pensioner member on divorce
- assessing pension credit calculations for the ex-partner (which refers to any eligible previous partner in the 1992 scheme i.e. ex-spouse, ex-civil partner) on divorce
- calculating the pension debit applicable to a member's pension following the implementation of a Pension Sharing Order and the application of the pension debit at retirement
in the Firefighters' Pension Scheme (Scotland) 1992.
This guidance should be used both when a member applies for a quotation of the value of the benefits during the divorce proceedings, and after a pension sharing order has been made.
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.