Pension CETV for divorce

enthusiasticsaver

Does anyone know if a pension CETV for divorce can be obtained from pension administrators or do they need to be calculated by an actuary? How do people going through a divorce find these figures out normally?

Silvertabby

From the pension administrators. They will all have their own way of doing the calculations.

enthusiasticsaver

Silvertabby wrote: »

From the pension administrators. They will all have their own way of doing the calculations.

That is what I thought. I have heard mention on my other thread it costs £1500 to get a value. Does that sound correct?

mgdavid

The specific pension administrators decide whether to charge, and if so, how much. It will vary a lot.

enthusiasticsaver

mgdavid wrote: »

The specific pension administrators decide whether to charge, and if so, how much. It will vary a lot.

It will be a civil service and an NHS one.

Tom99

Mine charged £200 a time. I needed these figures updated a couple of times and each update was £200. I am sure they had an easy spreadsheet to automatically calculate these figure but they insisted on being paid for each update.

enthusiasticsaver

Tom99 wrote: »

Mine charged £200 a time. I needed these figures updated a couple of times and each update was £200. I am sure they had an easy spreadsheet to automatically calculate these figure but they insisted on being paid for each update.

That sounds more sensible than £1500.

enthusiasticsaver

Although I guess if it needs updating a lot it can add up. Was the reason for updating the length of time if you don't mind me asking? Do they expire is I guess what I am asking? So if a decree nisi is applied for and a Pension CETV for divorce at the same time is there a point where you can no longer use it on the financial consent because it is too out of date? More than a year say?

crv1963

NHS can get one CETV annually at no charge. When I divorced I got the CETV once about 18 months before the finances were agreed and formally made part of the Consent Order.
The judge simply declared a percentage of my pension that had to be handed over to the opposition (sorry ex-wife). She then had a year to enact it by sending it to the NHS pensions agency and paying their fee to transfer the monies into a pension pot of her own.
I imagine though do not know for certain most public sector pensions will have similar rules over paying for CETVs and transfer of funds.
I think she got about 160k from my pot and it cost her 5k to enact the order, my sister similarly had to pay for the transfer of her portion of her ex-husbands pension pot to her name.

enthusiasticsaver

crv1963 wrote: »

NHS can get one CETV annually at no charge. When I divorced I got the CETV once about 18 months before the finances were agreed and formally made part of the Consent Order.
The judge simply declared a percentage of my pension that had to be handed over to the opposition (sorry ex-wife). She then had a year to enact it by sending it to the NHS pensions agency and paying their fee to transfer the monies into a pension pot of her own.
I imagine though do not know for certain most public sector pensions will have similar rules over paying for CETVs and transfer of funds.

That is so useful. Thanks.

crv1963

enthusiasticsaver wrote: »

That is so useful. Thanks.

I have since edited the post with a little more info.