Factors Guidance Hub

To calculate the CETV for a member's deferred Additional Pension (AP) the following formula should be used:

CETV = (P x F_xP) + (S x F_xS)

where:

P is the member's additional pension at the relevant date

S is the dependant's additional pension at the relevant date

F_xP is the relevant pension factor for a member aged x

F_xS is the relevant survivor's pension factor for a member aged x

Different factors should be used based on when an AP election was made. Elections made on or before 22 June 2010 are subject to revaluation in line with the Retail Prices Index (RPI) before coming into payment. The relevant factors for members with AP in respect of an election made on or before 22 June 2010, set out in "Factor Tables", are as follows:

Table CEM60R: CETV factors for men, NPA 60, AP in respect of an election made on or before 22 June 2010
Table CEF60R: CETV factors for women, NPA 60, AP in respect of an election made on or before 22 June 2010
Table CEM65R: CETV factors for men, NPA 65, AP in respect of an election made on or before 22 June 2010
Table CEF65R: CETV factors for women, NPA 65, AP in respect of an election made on or before 22 June 2010

Elections made after 22 June 2010 are subject to revaluation in line with the Consumer Prices Index (CPI) before coming into payment. The relevant factors for members with AP in respect of an election made after 22 June 2010, set out in "Factor Tables", are as follows:

Table 103: CETV factors for men, NPA 60
Table 113: CETV factors for women, NPA 60
Table 123: CETV factors for men, NPA 65
Table 133: CETV factors for women, NPA 65
Table 143: CETV factors for men, NPA 66
Table 153: CETV factors for women, NPA 66
Table 163: CETV factors for men, NPA 67
Table 173: CETV factors for women, NPA 67
Table 183: CETV factors for men, NPA 68
Table 193: CETV factors for women, NPA 68

The factors shown in paragraphs above should be selected with reference to the member's age, sex and NPA.

Separate CETVs should be calculated for AP elections with a different NPA. Separate CETVs should also be calculated for elections made on or before 22 June 2010 and for elections made after 22 June 2010.