This note is provided for the Department of Justice (DoJ) as the responsible authority for the Police Pension Schemes in Northern Ireland. This note relates to the 2006 scheme and it sets out the general method for assessing:

• statutory (non-Club) Cash Equivalent Transfer Values (CETVs), including CETVs for active and deferred members entitled to immediate benefits
• pensioner cash equivalents on divorce
• pension credits for ex-spouses or ex-civil partners on divorce
• pension debits applied to member's pensions on divorce
• retirement timing factors to be applied to pension debits.

Separate guidance will be issued covering the factors:

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

For members with entitlement to benefits in the 2006 scheme and either of the 1988 or 2015 schemes, the benefits in each scheme should separately be treated in accordance with the guidance relating to that 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 Police Pensions Regulations 2006 include a specific definition of the term 'Effective date of retirement' 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.

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 transfers to and from the 2006 scheme under the Public Sector Transfer Club. Factors and guidance for these transfers are issued by the Club Secretariat.

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