This note is provided for Welsh Ministers in their role as the responsible authority for the Firefighters' Pension Schemes (Wales). This note relates to the 1992 and 2007 schemes and sets out the guidance for trivial commutation and the calculation of the capitalised value of benefits for the purpose of determining death gratuities.

This guidance applies to the trivial commutation of pensions under the Firefighters' Pension Scheme (FPS) Order 1992 and the New Firefighters' Pension Scheme (Wales) Order 2007.

This guidance covers trivial commutation cases where any period during which a survivor's pension is paid at an increased rate has ended.

This note also provides the guidance used in the calculation of the capitalised value of benefits for the purpose of determining death gratuities under The Firefighters' Pension Scheme Order 1992.

This guidance does not cover:

• The capitalised value of children's pensions
• The capitalised value of pension credit benefits

This guidance relates only to benefits accrued under the 1992 and 2007 Scheme Regulations. Some firefighters may also have benefits under the 2015 Scheme which should be dealt with separately according to relevant scheme guidance.

Cases that are not covered by this guidance should be referred to the Firefighters' Pension Team at the Welsh Government, for onward transmission to Government Actuary's Department (GAD). If this gives rise to issues that are of general applicability then the Welsh Assembly Government may be prepared to cover GAD's fees. Otherwise, fire authorities would need to meet GAD's fees.

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.