Market value adjustments (FOI)

​Request

Could you please provide me with Market Value Adjustments (MVA) values for the last ten years.

Response

The public service pension schemes are not subject to Freedom of Information.

The Governing Bodies of the public service pension schemes are responsible for appointing the Scheme Actuary for the Public Employees’ Pension Fund (PEPF) and the Jersey Teachers Superannuation Fund (JTSF). It is the Scheme Actuary who determines Market Value Adjustments (MVA’s) in order to ensure that individuals opting to transfer their benefits out of the scheme are actuarially cost neutral to the Fund at the time of calculation.

Information from the Governing Bodies can be obtained by writing to the Scheme Secretary:

The Scheme Secretary
c/o Public Employees Pension Team
19-21 Broad Street
St Helier
Jersey
JE2 3RR

This request is therefore exempt under Article 23 (Accessible by other means) of the Freedom of Information (Jersey) Law 2011.

Article applied

Article 23 Information accessible to applicant by other means

(1) Information is absolutely exempt information if it is reasonably available to the applicant, otherwise than under this Law, whether or not free of charge.

(2) A scheduled public authority that refuses an application for information on this ground must make reasonable efforts to inform the applicant where the applicant may obtain the information.