IMPORTANT NOTICE – PUBLIC SECTOR PENSION SCHEMES

The Government have announced that the SCAPE rate is to increase from the current 1.7% to 2%.

https://questions-statements.parliament.uk/written-statements/detail/2026-05-19/hcws37

This will have a general effect of reducing the cash equivalent valuations for the various public sector pension schemes such as NHS, Teachers, Police etc.

Conversely though this will have the general effect of increasing the shadow membership benefits to a pension credit member.

You will probably recall from the previous SCAPE rate changes in the past that this will lead to an embargo on the provision of cash equivalent value quotations and the implementation of any ongoing pension sharing orders until the Government Actuaries Department has reviewed and updated their factors.

How long this embargo will last is hard to say but from past experience we probably have to expect delays of between 4 and 10 weeks (if not even a bit longer with some of the schemes to then clear their backlogs (Armed Forces and Civil Service???)

Sorry!

Kind regards,

Clive Weir | Expert Consultant
Professional Services