Friday, June 5, 2026
On 19 May 2026, the Minister for Pensions, Torsten Bell, confirmed in a Written Ministerial Statement that the SCAPE discount rate has been updated following the publication of long-term GDP growth figures in July 2025. The new SCAPE discount rate is now CPI plus 2%, increased from CPI plus 1.7%.
The SCAPE discount rate is used to calculate actuarial factors within the Local Government Pension Scheme (LGPS) and due to the change, the Government Actuary's Department (GAD) are reviewing all scheme actuarial factors.
The Local Government Association (LGA) has instructed all LGPS Funds to temporally suspend the following calculations whilst the factors are being reviewed.
Cash Equivalent Transfer Values (CETVs) and Cash Transfer Sums (CTS) for transfers out of the scheme
Certain types of aggregations and interfunds (both into and out of the Fund)
CEV for divorce purposes
Non-club transfers in
Once the revised factors have been announced by GAD and our software has been updated, we will be in a position to resume these calculations.
Please accept our apologies for any delays and inconvenience this may cause you.
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