SCAPE rate discount

On 19 May 2026, the Minister for Pensions announced that the SCAPE (superannuation contributions adjusted for past experience) rate discount has changed from CPI plus 1.7%, to CPI plus 2%. This affects the actuarial factors used in many LGPS calculations, including retirements and transfers.

The Government Actuary Department (GAD) expects to issue updated factors for Cash Equivalent Transfer Values (CETVs) and pension cash equivalent calculations in the next couple of weeks. We must suspend processing these cases in the meantime.

The remainder of the factors will be issued in batches over a six-month period. The early and late retirement factors are expected within six weeks. These timings are subject to change.

As a result of these changes members will now see a higher reduction to their benefits for retiring early. Members will need to be aware that any estimates that they have received or generated themselves in My Pension will be subject to change as a result of the new factors.

We will be adding some information about this to our website as well on My Pension to explain that the early retirement reductions are subject to change.

These changes will also affect strain cost payments. If you have received a strain cost estimate from us for a future retirement date, please be aware that those costs will be subject to change if the retirement takes place after the new factors have been implemented.

If you have any queries about this, please contact us at employersupport@gmpf.org.uk.