GAD guidance on calculating tax charge debits for Mandatory (MSP) and Voluntary Scheme Pays (VSP) in each of the 1992, 2006 and 2015 schemes. For more information on VSP, including proportionment guidance, please see FPS Bulletin 4.

GAD guidance on calculating tax charge debits for Mandatory (MSP) and Voluntary Scheme Pays (VSP) in each of the 1992, 2006 and 2015 schemes. For more information on VSP, including proportionment guidance, please see FPS Bulletin 4.

FPS 1992

Guidance note dated 21 December 2012 sets out the general method for assessing the debits applying to the benefits of an FPS 1992 member who elects for the scheme to pay tax charges on their behalf. For clarity, the guidance contains both annual allowance debit guidance (section 2) and lifetime allowance debit guidance (section 3).

The factors dated 24 January 2019 should be read in conjunction with the guidance note dated 21 December 2012.

Dated Operative Date Document
24 January 2019 24 January 2019

FPS 1992 Updated tables of factors (xlsx, 45.9kb)

13 May 2016  

FPS 1992 Addendum: updated tables of factors (PDF, 8 pages, 87kb)

21 December 2012  

FPS 1992 Tax charge debits guidance (PDF, 23 pages, 97kb)

FPS 2006

Guidance note dated 21 December 2012 sets out the general method for assessing the debits applying to the benefits of an FPS 2006 member who elects for the scheme to pay tax charges on their behalf. For clarity, the guidance contains both annual allowance debit guidance (section 2) and lifetime allowance debit guidance (section 3).

The factors dated 24 January 2019 should be read in conjunction with the guidance note dated 21 December 2012.

Dated Operative Date Document
24 January 2019 24 January 2019

FPS 2006 Updated factors (xlsx, 66.1kb)

13 May 2016  

FPS 2006 Addendum: updated tables of factors (PDF, 9 pages, 130kb)

21 December 2012  

FPS 2006 Tax charge debits guidance (PDF, 24 pages, 255kb)

FPS 2015

Guidance note dated 11 June 2015 sets out the general method for assessing the notional pension offset that is applied to an FPS 2015 member’s benefit in each year that they incur an Annual Allowance charge, and the actual pension offset that is applied to the member’s pension on retirement.

The factors dated 24 January 2019 should be read in conjunction with the guidance note dated 11 June 2015.

Dated Operative Date Document
24 January 2019 24 January 2019

FPS 2015 Updated AA factors (xlsx, 27.3kb)

13 May 2016  

FPS 2015 Addendum: updated tables of factors (PDF, 7 pages, 66kb)

11 June 2015  

Annual Allowance Charges: Scheme pays offsets (PDF, 22 pages, 167kb)

GAD has confirmed that interpolation should be used to determine the factor for calculating the pension offset for a member whose DPA is a non-integer age upon electing to use the scheme pays facility. In the following example the member in question is a male with a DPA of 67 years, 7 months and 8 days.

Please see the attached GAD guidance dated 13 May 2015 to be applied in line with regulation 179 of the 2015 regulations, relating to the reduction of benefits where a Lifetime Allowance charge becomes payable.

Please note as per A.8 of the guidance note the factors in the guidance note are provided for convenience, and are based on the Pension Sharing on Divorce guidance (tables A1 to B2 only) dated 12 May 2015. If the divorce factors change, then the factors in this guidance note change accordingly. As such you may be aware, that an addendum to the pension sharing on divorce factors was published on 13 May 2016 changing tables C1 and C2 only.

The factors dated 24 January 2019 should be read in conjunction with the guidance note dated 13 May 2015.

Dated Operative Date Document
24 January 2019 24 January 2019

FPS 2015 Updated LTA factors (xlsx, 18.6kb)

13 May 2015  

Lifetime Allowance pension debit factors and guidance (PDF, 9 pages, 105kb)