What is a Cash Equivalent Transfer Value?

1. What information is required to enable parties to decide whether Pension Sharing is for them?

2. What is a Cash Equivalent Transfer Value (CETV)?

A CETV represents the notional value of the pension rights accrued in the pension scheme. For divorces under Scots Law, only service relating to the period of marriage will be used in calculating the CETV. For divorces under English Law all service will be taken into account. The CETV is calculated using a range of factors supplied to the SPPA by the Government’s Actuary Department (GAD) as no actual fund exists.  The NHS Scheme is an unfunded public sector pension scheme.

3. Can I replace the share of my pension benefits that go to my former spouse?

4. Can I transfer my pension benefits to another scheme?

5. What about my ex-spouse?

6. When does the former spouse get their share of their benefits awarded in the Pension Sharing Order?

7. What will it cost?

8. What information is required by the Agency for implementation?

Link to Scottish Government Website