This note is provided for the Department of Justice (DoJ) as responsible authority of the police pension schemes in Northern Ireland. This note relates to the 1988 scheme and it sets out the general method for assessing:

• Public Sector Transfer Club transfer values
• statutory (non-Club) Cash Equivalent Transfer Values (CETVs), including:
  • CETVs for active and deferred members entitled to immediate benefits
  • CETVs for members entitled to deferred benefits payable from 50
• pensioner cash equivalents on divorce
• pension credits for ex-spouses on divorce
• pension debits applied to member's pensions on divorce
• retirement timing factors to be applied to pension debits

Separate guidance notes cover the factors:

• for use in the 2006 and 2015 schemes
• for the calculation of service credits on incoming non-Club transfers into the 1988 scheme

For members with entitlement to benefits in the 1988 scheme and either of the 2006 or 2015 schemes the benefits in each scheme should separately be treated in accordance with the guidance relating to that scheme.

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.

This note does not cover incoming Club transfers. Club transfers into the 1988 scheme are subject to a time limit of 12 months from joining. The 1988 scheme has been closed to new entrants for more than 12 months and so transfers in will not qualify for Club terms. Administrators wishing to process a transfer into the 1988 scheme on Club terms should refer the case to the Department of Justice, as per below.

Nothing in this guidance should be read as overriding the regulations which govern the scheme.

In this guidance we have used the term 'retires' or 'retirement' to mean the date the pension commences payment (consistent with previous versions of this guidance document). We are aware that the Royal Ulster Constabulary Pensions Regulations 1988 include a specific definition of the term 'Effective date of retirement' (regulation A19) which in certain circumstances could conflict with our use of the term retirement. The meaning intended in this guidance should be clear from the context within which it is used.