Factors Guidance Hub

Pensionable earnings increase to be provided =

Adjusted transfer value x 54 / (Factor TVINA)

Points to note in using factors:

Factor TVINA is unisex and should generally be selected based on age in complete years at the end of the scheme year of joining the scheme (i.e. as at the 31 March after date of joining). However (and subject to the paragraphs below) where a transfer value payment is received more than 12 months after the date of joining the scheme age in complete years as at the date transfer value payment is received should be used.
For members with non-integral PNPA the table for the nearest PNPA should be used (rounding up for 6 months or over).

The pensionable earnings addition determined as above is credited in the year of joining unless (and subject to the paragraph below) the transfer is received more than 12 months after date of joining in which case it is credited in the year in which the transfer value payment is received.

If a transfer payment is received within 3 months of the date the written estimate of increase in pensionable earnings is provided to the member the earnings credit should be treated as if received in the scheme year in which the date of the written estimate fell (assuming the transfer payment is unchanged from that used for the estimate).

The earnings credit should be recalculated and credited as at the later date of receipt if the transfer amount is received more than 3 months after the date of written estimate as above or if the amount received is different to that on which the quotation was based.

In any case where the quotation relates to a transfer from a scheme in which a member has accrued rights relating to prior membership of the NHS Scotland scheme and/or as a result of membership of a scheme which has been assessed as being 'broadly comparable' to the NHS Scotland scheme the earnings credit determined in accordance with the above paragraphs should be limited to that appropriate to the member's aggregate reckonable service in those schemes. The whole transfer in will be applied to provide an earnings credit in the 2015 scheme regardless of the nature of the entitlement in the transferring scheme. Please refer to GAD for further guidance on the calculation.