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andyg107

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Dazed_and_C0nfused

What do you want the CETV for?

andyg107

Sadly, divorce.  I'd like to get a plan in place re the marital assets as quickly as I can, without waiting months.

hyubh

andyg107 said:

Hi all.  I have a Civil Service, career-average, defined benefit pension.  I wonder if anyone knows how the CETV might be assessed on such a thing?  Would it be the same/similar method to a Final Salary pension's calculation, or is the methodology different?  I am 35, been in this pension for 5 years, being in a previous scheme for two years before that.  My annual pension from the current scheme is on my latest statement as £6,000.  Annual pension from the previous scheme is £1,200.  According to my statement, I have used 13.5% of the Lifetime Allowance of £1.055m through the benefits contained within the statement.

It will take 1-3 months to get this CETV back from the scheme trustees so wondering if anyone can give guidance to estimate the CETV in the meantime?

You can only transfer out of the civil service scheme to another DB one, which generally comes down to getting a job elsewhere in the public sector and transferring into the new job's public service pension scheme - and in that scenario, the CETV is essentially academic because of the special terms involved in inter-public sector ('Club') transfers. The only other CETV scenario is getting a valuation of your pension for divorce purposes (calculation is different to a 'normal' CETV).

So, really, your question is academic - in particular, how a CETV is calculated has no impact on the value of the pension for LTA purposes, and in fact, wouldn't have any impact even in a DB scheme where you can freely transfer out.

Silvertabby

A CETV for divorce purposes is an extremely complicated calculation.

You can't DIY it - you will have to wait for the Civil Service pensions to supply the CETV and the Form E required by the Court.