Actuarial guidance

Introduction

This page includes LGPS actuarial guidance issued by MHCLG, the government department responsible for the LGPS. MHCLG issues guidance under the LGPS Regulations 2013 and the LGPS (Transitional Provisions, Savings and Amendments) Regulations 2014. We have also included guidance issued under previous regulations that continued to have effect at any point after 31 March 2014.

Where a piece of guidance is labelled as a ‘consolidated working copy’, this document was provided for information in August 2015. It was not official guidance but a consolidation, prepared by GAD, of the original guidance (issued in March and April 2014) with amendments that were made after the original guidance was issued.

SCAPE discount rate change – May 2026

On 19 May 2026, the Minister for Pensions (Torsten Bell MP) made a written ministerial statement confirming that the SCAPE discount rate has been adjusted to take into account the long term GDP growth figures published by the OBR in July 2025. Based on these figures, the new SCAPE discount rate is CPI plus 2%. This is a change from CPI plus 1.7%.  As the rate is used to calculate LGPS actuarial factors, GAD reviewed and updated all factors. Some factors, including those for non-Club transfers and pensioner cash equivalent values, were suspended from 19 May until replacements became available. All other factors continued to apply until they were replaced.

The updated factors were issued in three batches, announced by MHCLG in letters of 9 June 2026, 13 July 2026 and 7 September 2026. The relevant MHCLG cover letters confirm the implementation dates.

You can find the latest factors in the Factor table 2026-03.

We have updated the transitional arrangements table (version 4.0) in response to the publication of the third batch of factors.

Actuarial guidance notes and factors