HM Treasury issues August 2026 Preston factors for part-time pension reinstatement
HM Treasury has released the August 2026 Preston factors, the actuarial earnings and interest figures employers use to cost retrospective occupational pension service for part-time workers entitled to reinstatement. The release follows the 2000/2001 ECJ and House of Lords rulings. It matters to anyone administering a scheme with outstanding Preston reinstatement claims, because these factors set what a reinstated member must pay.
- HM Treasury published the Preston guidance for August 2026 on 1 October 2026 for use by employers.
- The release contains two Excel files: the Preston factors (95.2 KB) and an Employee NICs Rebate file (56.2 KB).
- The factors price retrospective occupational pension service at an actuarially fair cost under the guidance.
- The stated aim is to leave reinstated part-timers no better and no worse off than if they had contributed when originally employed.
- The guidance follows the European Court of Justice and House of Lords rulings in 2000/2001 on part-timers' retrospective scheme access.