Pension sharing - more about CETVs

Posted by Rory Miln on Monday, September 13, 2010 Under: definitions

If the finances of your divorce involve a pension or pensions, it will be necessary at the outset to obtain the Cash Equivalent Transfer Value (CETV) for every pension that either of you have ever had. The spouse with the pension should ask their pension provider to supply the CETV for that pension. Unless the provider has supplied a CETV within the previous 12 months, the CETV must be provided free of charge.

You should resist the temptation to start negotiating a financial settlement before you have the CETV of every pension. This includes the Additional State Pension (formerly the State Second Pension and before that the State Earnings Related Pension - SERPS), for which you need to use Form BR20 which you can download from the DirectGov site at http://www.direct.gov.uk/prod_consum_dg/groups/dg_digitalassets/@dg/@en/@over50/documents/digitalasset/dg_180317.pdf

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Rory Miln

Principal

Every week, usually on a Monday, I post my movements for the coming week - when I'm in the office and when I'm out, for example at court. At the same time I post a short article on a word or expression that may crop up during a separation or divorce case. Sometimes I comment on a topical legal issue. I'm always glad of feedback - any comments on my blog entries are welcome - just send me an email.

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About Miln MacLeod

Rory Miln

Miln MacLeod Solicitors is the practice name of Rory Miln, a solicitor of England and Wales recognised as a sole practitioner, authorised and regulated by the Solicitors Regulation Authority (SRA). The practice's SRA number is 535105. The SRA’s rules can be found (in English) on their website at http://www.sra.org.uk/solicitors/code-of-conduct.page