SCAPE Discount Rate Change – Review of Pension Scheme Factors
On 19 May 2026, HM Treasury announced a change to the SCAPE discount rate from CPI + 1.7% to CPI + 2.0%.
The SCAPE discount rate is used by the Government Actuary's Department (GAD) to set actuarial factors used in a range of pension calculations. As a result of this change, a review of the Scheme's factors is required, and some calculations may be affected until revised factors are issued by GAD.
What calculations are affected?
The review may affect calculations including:
- Transfers into and out of the Scheme
- Early and late retirement calculations
- Pension sharing orders
- Added Pension purchases
- Other calculations that rely on actuarial factors
Current position
We are working with GAD and awaiting the issue of revised factors. Until these are received, some calculations may be delayed or suspended.
Members with affected cases will be contacted where necessary. We will continue to process all unaffected pension administration work as normal.
Keeping you updated
We appreciate your patience while this review is completed. Updates will be published on this website as further information becomes available and revised factors are implemented.
SCAPE (Superannuation Contributions Adjusted for Past Experience) is the discount rate used across public service pension schemes to determine a range of actuarial factors and valuations.