HM Treasury Publishes Preston Guidance for Employers
UKPulse Money Desk
HM Treasury has released its September 2026 Preston guidance, providing earnings and interest factors for employers.
- HM Treasury has published the September 2026 Preston guidance.
- The guidance provides Preston factors (earnings and interest factors) for employers.
- These factors are used for part-timers gaining retrospective access to occupational pension schemes.
HM Treasury has issued its September 2026 Preston guidance, which includes earnings and interest factors for employers. This guidance follows European Court of Justice and House of Lords’ rulings from 2000/2001.
The rulings favoured part-time workers gaining retrospective access to occupational pension schemes, provided they meet legal requirements. The Preston factors are intended to allow entitled individuals to gain pension service at an actuarially fair cost, aiming to place them in a similar financial position as if they had paid contributions originally.
Why this matters: The Preston factors are used to ensure part-time workers who gain retrospective access to occupational pension schemes do so at an actuarially fair cost.