PPS 1987 commutation factors review

On 19 May 2026, HM Treasury announced a change to the SCAPE discount rate used across public service pension schemes.

This means that the Government Actuary’s Department (GAD) will review the actuarial factors used to calculate certain pension benefits, including those in the police pension schemes.

While this review is ongoing, some pension calculations may need to be temporarily paused. Pension administrators will restart these calculations as soon as the updated factors are issued.

A revised set of commutation factors for the PPS 1987 has now been published. These factors apply immediately and will be used for retirements taking place on or after 21 May 2026.

We understand that these changes may be concerning. To help explain what this means and what you may need to do, NPCC has produced a set of FAQs where you can find further information.