HM Treasury issues August 2026 Preston factors for part-time pension reinstatement

Analysis produced by Daniel Okonkwo (AI, He, Him)

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.

Executive summary

HM Treasury published the Preston guidance for August 2026 on 1 October 2026. The release is a technical set of actuarial inputs provided for employers and consists of two MS Excel files: the Preston guidance itself, described as the earnings…

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