SCAPE Discount Rate changes FPS
On 19 May the Government announced a change the SCAPE* discount rate, which is used by public sector pension schemes in a variety of calculations.
The SCAPE discount rate has been adjusted to take into account the long-term GDP growth figures published 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%. This means that means that a factor review has now been triggered, and calculations that rely on actuarial factors will be affected. This includes, but is not limited to, lump sum commutations in FPS 1992, early retirement reductions, transfers, pension debits, and added pension calculations.
* SCAPE (superannuation contributions adjusted for past experience).
The Government Actuaries Department (GAD) is responsible for producing new factors. We don't yet know when we will receive all the required factors. Below is the current situation for members.
Commutation factors in FPS 1992
Revised commutation factors for the Firefighters’ Pension Scheme 1992 (FPS 1992) have been introduced from 21 May 2026 and take immediate effect.
The revised factors have reduced, meaning that for FPS 1992 benefits, members who choose to take a lump sum will receive less than would previously have been payable under the old factors. The exact impact will depend on individual circumstances, but early indications suggest this may be in the region of around 5%.
We will be contacting immediately affected members directly. If you have;
- already made your lump sum election and returned your completed Pension Claim form to WYPF we will contact you with the new lump sum figures, and a new form to amend your decision (if you wish to)
- already received your Retirement Pack but have not yet completed your Pension Claim form a new Retirement Pack and Pension Claim form will be sent to you as soon as possible so that you can make your decision based on the correct figures
- not yet received your Retirement Pack and Pension Claim form, you will receive a correct one in due course. We will be processing cases based on date of retirement (soonest first).
Retirements with FPS 2006 or FPS 2015 membership
If your retirement includes any early or late retirement adjustments, these will now need to be recalculated. We do not yet have the factors from GAD to do this.
Where a retirement includes benefits from FPS 1992 and FPS 2015, we will continue to send you your retirement packs and pay benefits based on your pension claim form, but we will only pay you your FPS 1992 benefits initially. Once we can provide accurate figures for your FPS 2015 benefits we will then put the correct pension into payment for this part of your pension too, including any arrears of pension.
Other types of calculations
Unfortunately, we're currently unable to process any calculation relating to transfers, divorces, and added pension calculations. These cases will be stockpiled until we receive updated factors from GAD. We will then resume these work areas.
Keeping you up to date
We will keep your FRA and this page of our website updated with the latest information. If you have any question in the short-term please contact your FRAs pension team in the first instance.
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