If an active or deferred member wishes to obtain a CETV or cash equivalent on divorce quotation, the formula is:

CETV = [(accrued pension x F_NRA,B^P) + (accrued partner's pension x F_NRA,B^S)] x F_Y^REV

Where:

accrued pension is the member's accrued annual pension in JPS2015 at the relevant date. Where applicable, this should include pension increases under the Pensions (Increase) Acts between the date of leaving the scheme (or from 1 April 2022 (if later) if the member ceased accrual in JPS2015 and joined JPS 2022 with effect from 1 April 2022) and the relevant date.

accrued partner's pension is the accrued annual partner's pension in JPS2015 at the relevant date. Where applicable, this should include pension increases under the Pensions (Increase) Acts between the date of leaving the scheme (or from 1 April 2022 (if later) if the member ceased accrual in JPS2015 and joined JPS 2022 with effect from 1 April 2022) and the relevant date. This amount should be included in the calculation regardless of whether the member has a qualifying partner at the relevant date.

F_NRA,B^P and F_NRA,B^S are from the relevant table for the member's normal retirement age (NRA) as follows:

If the member has a non-integer NRA, please use linear interpolation to find the member's factor.

F_Y^REV is the relevant revaluation factor for a member with y number of 1 Aprils between the calculation date and NRA, taken from Table 5B (Table 210 in the consolidated factor workbook). If the member is aged over NRA at the calculation date, the revaluation factor should be set to 1.

The factors are to be taken at the member's age last birthday at the relevant date.

If a pensioner member wishes to obtain a CETV or cash equivalent on divorce quotation, the formula is:

CETV = (annual pension x F_6B^P) + (accrued partner's pension x F_6B^S)

Where:

annual pension is the member's annual JPS2015 pension in payment at the relevant date. Where applicable, this should include pension increases under the Pensions (Increase) Acts between the date of leaving the scheme and the relevant date. It should also include any step-up due to Guaranteed Minimum Pension, even if not yet in payment.

accrued partner's pension is the accrued annual partner's pension in JPS2015 at the relevant date. Where applicable, this should include pension increases under the Pensions (Increase) Acts between the date of leaving the scheme and the relevant date. This amount should be included in the calculation regardless of whether the member has a qualifying partner at the relevant date.

F_6B^P and F_6B^S are from Table 6B (Table 302 in the consolidated factor workbook). The factors are to be taken at the member's age last birthday at the relevant date.

To calculate a pension credit for a member who has not yet reached his or her NRA, the formula is:

Pension credit = Amount of cash equivalent on divorce awarded to pension credit member / (F_7B ^Px F_z^REV)

Where:

Amount of cash equivalent on divorce awarded to pension credit member is either

1. If the pension credit member has been awarded an amount in pounds, the amount that has been awarded; or
2. If the pension credit member has been awarded a percentage of the member's cash equivalent, the percentage that has been awarded multiplied by the member's cash equivalent calculated in line with the methodology set out in the Active and deferred member CETVs and cash equivalents on divorce or Normal and ill health pensioner cash equivalents on divorce sections above.

F_7B ^P is from Table 7B (Table 305 in the consolidated factor workbook) for the pension credit member's NRA. Please use linear interpolation if the member has a non-integer NRA.

F_z^REV is the relevant revaluation factor for a pension credit member with Z number of 1 Aprils between the calculation date and NRA, taken from Table 5B (Table 210 in the consolidated factor workbook).

The factors are to be taken at the pension credit member's age last birthday at the relevant date.

The equivalent pension debit should be calculated in line with the 1999 Act.

To calculate a pension credit for a member who is above his or her NRA, the formula is:

Pension credit = Amount of cash equivalent on divorce awarded to pension credit member / F_8B^P

Where:

Amount of cash equivalent on divorce awarded to pension credit member is either

1. If the pension credit member has been awarded an amount in pounds, the amount that has been awarded; or
2. If the pension credit member has been awarded a percentage of the member's cash equivalent, the percentage that has been awarded multiplied by the member's cash equivalent calculated in line with the methodology set out in the Active and deferred member CETVs and cash equivalents on divorce or Normal and ill health pensioner cash equivalents on divorce sections above.

F_8B^P is from Table 8B (Table 306 in the consolidated factor workbook) for the pension credit member's NRA. Please use linear interpolation if the member has a non-integer NRA.

The factors are taken to be at the pension credit member's age last birthday at the relevant date.

The equivalent pension debit should be calculated in line with the 1999 Act.