Treasury increases DB valuation factor from 10 to 16 - UPDATED

Jonathan Stapleton
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The Treasury has confirmed it will protect long-serving final salary scheme members after it increased the factor used for valuing benefits against the annual allowance from 10 to 16.

Currently, for final salary pension schemes, any increase in benefits over the course of the year is currently compared with the annual allowance by multiplying it by a factor of 10. However the...

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