Wednesday, 20 April 2011 13:43
As result of the Budget of 23rd March 2011, HM Treasury has confirmed that they are considering a review of the basis for the calculation of Cash Equivalent Transfer Values (CETV) payable from public service schemes, including the NHS and Teachers schemes.This may affect you if you need a CETV statement because you are:
- transferring your NHS or Teachers pension rights to another pension scheme.
- obtaining a quotation for divorce purposes.
The SPPA are still able to provide you with a CETV statement, which will be calculated on the existing basis. However, you should be aware that following the review of the calculation basis, the CETV may be higher, or lower, than would be the case for a statement provided at present.