Following the Budget 2016 announcement that the SCAPE discount rate has been reduced from 3% above CPI pa to 2.8% above CPI pa, the Government Actuary’s Department has undertaken a review of the retirement lump sum commutation factors used in the 1987 police pension scheme. As a result, the factors have been revised upwards. This will mean an uplift in the amount of cash lump sum that can be taken. The updated scheme commutation guidance can be accessed below. The changes are effective from 21st March 2016. This is some welcome positive news for a change in the otherwise pretty gloomy world of pensions!