Standard life staff pension CETV

cpperson

I am looking for any help that someone might be able to give on standard life staff pensions. My ex partner was employed by standard life circa 2006. Does anyone have any idea how the CETV value for the pension is sent out as what I’ve been sent through the solicitor doesn’t like anything like mine from my employer.

The figures provided have no calculations on how they were worked out and i’m really just looking for some reassurance of what and how the CETV are sent from them to be able to compare what I’ve been sent.

I’m don’t need anyone’s personal information purely just an Indra of what the document you have received for you CETV would give me some clarity that the document provided is complete.

Marcon

Were they specifically told this was needed for divorce/dissolution of CP purposes?

cpperson

It’s what my ex partner was to request but what I have received looks very basic and i assumed it would have more detail hence looking for someone who has possibly had a CETV from someone in the scheme to be able to compare.

QrizB

Are both CETVs - yours and your ex-partners - specifically for divorce etc. purposes? They're different to a "normal" CETV.

cpperson

they were for divorce so they should be

Marcon

https://forums.moneysavingexpert.com/discussion/comment/82010675#Comment_82010675

'Should' isn't a cast iron guarantee of 'is'. If you're sure you asked for your own CETV for divorce purposes, then compare the information on that to the information on the CETV for your ex (the fact they are different schemes is largely irrelevant).

What does your solicitor say, if you're using one (not clear from your post if 'the solicitor' was your own or acting for your ex)?

cpperson

yes solicitor involved and mine is cerv for divorce. Mine is fully detailed but my ex has just a figure and no details of the pension scheme or working.

That’s why I would like to be able to compare with someone who has experience of the same pension scheme

Silvertabby

No experience of this particular scheme, but a divorce CETV is one of the most complicated DB calculations and is always more than just a £figure.

Can you ask your ex if they specifically asked for a Divorce CETV?

cpperson

Not a chance she will give anything else without going to court. I’m trying to avoid those costs at this stage if we can as it seems silly and a lot of hassle.

hopefully someone here will have had a CETV from this scheme to let me compare.

Marcon

hopefully someone here will have had a CETV from this scheme to let me compare.

You're missing the point. The CETV information which needs to be provided in relation to divorce proceedings has a statutory basis, rather than being something schemes can merrily decide for themselves in terms of what to include. If you want to do a comparison, then look at what your scheme has provided and what her scheme has (apparently) provided.

From what you've said, you quite definitely haven't got the full information - and begs the question why your solicitor didn't spot that fact instantly.

Go back and point out that you need a CETV which has specifically been supplied for divorce purposes IF that's what you want. If you and your ex are simply having a look at ball park figures at this stage, then maybe a straightforward CETV is all you currently need - but if you apply for any sort of pension sharing order (which will have to be approved by the court), then you'll need to ensure both parties are using the approved format and updated CETVs. Be aware there could well be a cost - schemes only need to provide one CETV without charge in any 12 month period. There will also be a cost for implementing any order which is granted by the court, so make sure you agree who's going to meet that - see https://www.pensionsuk.org.uk/Portals/0/Documents/Policy-Documents/2023/PLSA-pension-sharing-on-divorce-guidance.pdf

which many schemes use as a basis for their charges.

dunstonh

Does anyone have any idea how the CETV value for the pension is sent out as what I’ve been sent through the solicitor doesn’t like anything like mine from my employer.

Is one a CETV for a defined benefit scheme and the other a transfer value for a defined contribution scheme?