This note is provided for the UK Atomic Energy Authority (UKAEA or the Authority) in its role as manager of the UK Atomic Energy Authority Pension Schemes ("the UKAEA Schemes").

The purpose of the note is to provide the Authority with factors to be used to calculate the lump sum due on the commutation of a small pension ('trivial commutation'), and accompanying guidance to demonstrate how these factors should be applied to determine the lump sum.

These factors apply to members who are entitled to commute their pension under the Schemes' rules.

We understand that the setting of trivial commutation factors is the responsibility of the UKAEA.

Various restrictions on trivial pension commutation are imposed by the pension taxation regime. A payment of a lump sum in lieu of a small pension should be compliant with this and/or overriding legislation in addition to the Schemes' rules.

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.

We do not envisage any other special cases not covered by this note. However, if any do occur they should be referred to GAD.