Guidance

Preston guidance: October 2013

Preston factors (Earnings and Interest factors) are provided for employers.

• From: HM Treasury
• Published: 11 October 2013
• Last updated: 11 November 2013 — See all updates

Documents

Employee NICs rebate

MS Excel Spreadsheet, 39.4 KB

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Preston guidance: annex two (earnings and interest factors)

MS Excel Spreadsheet, 72.4 KB

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Details

Following the European Court of Justice and House of Lords’ rulings in 2000/2001 in favour of part-timers gaining retrospective access to occupational pension schemes, provided they meet the necessary legal requirements, the Preston factors (Earnings and Interest factors) are provided for employers.

The factors are used to provide those entitled to reinstatement, an opportunity to gain pension service at no cost to them, which as far as possible makes these individuals no better and no worse off than if they had paid contributions to the scheme when they were originally employed.

Published 11 October 2013
Last updated 11 November 2013 + show all updates

1. 11 November 2013

   added date to title

2. 11 October 2013

   updated for october

3. 11 October 2013

   First published.

4. 12 September 2013

   updated spreadsheets

5. 6 August 2013

   Updated index factor to 8,078 for July 2013 Updated earnings index factor to 9,608 for May 2013

6. 4 July 2013

   The Interest index has been updated for June 2013 The earnings index has been updated for April 2013