Teachers Pension CETV for divorce arrangements

Albermarle

This question is for a friend who is probably going to get divorced, and their partner is a longstanding senior teacher. I wondered if anybody could hazard a guess at what the CETV of the Teachers pension might be. I know it can not actually be transferred out,but this figure will probably be used in the overall divorce settlement at some future date. I do not know the exact details, but only looking for a ball park figure, although I am presuming it will be in excess of half a Million Pounds.

Age - Mid Fifties
Length of service - approx 30 years
Current position - Junior school ( 7 to 11) Headteacher for last 15 years.
Salary - £85K ??

Any thoughts?

JoeCrystal

Considering the teacher may still be in final salary scheme until 2022, the pension could be at least £30k for a start... RPI single life, five year annuity would requires over £750k for example. 

Bit out of date but might be helpful:

https://www.teacherspensions.co.uk/-/media/documents/member/documents/factors/divorce/191027_tps_ew_pensioner-divorce-cetv-guidance.ashx

https://www.teacherspensions.co.uk/public/search/-/media/263f3cd3d2f24635a682a1a096930161.ashx

Silvertabby

A divorce CETV is probably the most complicated calculation in the world of DB pensions.  It isn't just one figure - the requisite Form E carries a whole heap of data.

It just isn't possible to DIY it - it has to be requested from TPS, specifying that it's for divorce purposes.  

Albermarle

Silvertabby said:

A divorce CETV is probably the most complicated calculation in the world of DB pensions.  It isn't just one figure - the requisite Form E carries a whole heap of data.

It just isn't possible to DIY it - it has to be requested from TPS, specifying that it's for divorce purposes.  

Yes I realise that, but at this very early possible pre divorce stage, my friend would just like to know what a ball park range of possible figures might be .

Silvertabby

Albermarle said:

Silvertabby said:

A divorce CETV is probably the most complicated calculation in the world of DB pensions.  It isn't just one figure - the requisite Form E carries a whole heap of data.

It just isn't possible to DIY it - it has to be requested from TPS, specifying that it's for divorce purposes.  

Yes I realise that, but at this very early possible pre divorce stage, my friend would just like to know what a ball park range of possible figures might be .

The calculation is on page 11 of Joe's first link.  Now do you see why it can't be DIY'd ! 

If you really, really, need some numbers to look at then the LTA will tell you just how valuable a DB pension can be.  ie, the sum of 20 X annual pension plus 1 X any automatic lump sum.  But don't even think of giving this amount as a divorce valuation.

Marcon

Albermarle said:

Silvertabby said:

A divorce CETV is probably the most complicated calculation in the world of DB pensions.  It isn't just one figure - the requisite Form E carries a whole heap of data.

It just isn't possible to DIY it - it has to be requested from TPS, specifying that it's for divorce purposes.  

Yes I realise that, but at this very early possible pre divorce stage, my friend would just like to know what a ball park range of possible figures might be .

That's completely understandable, but the best 'advice' you can give is to say that simply isn't going to be possible and they will need to wait, particularly as they don't even know for certain what their spouse's salary is/has been in recent years.