How do I get CETV for my NHS pension?
To apply for a CETV for this purpose complete form PD1 (PDF: 206KB) and send to NHS Pensions. If you’re an active member, or you left within the last 12 months, you must also ask your employer to complete form PD2 (Word: 267KB). When completed, send this with the PD1 to NHS Pensions. The address is on the form.
What is the CETV of an NHS pension?
Where the member is a scheme pensioner, the CETV represents the capitalised fund value of the pension in payment. The CETV is calculated in accordance with the NHS Pension Scheme regulations using guidance and factors provided by the Scheme Actuary.
How do I get CETV?
If you would like to request a CETV of your pension benefits, please download, complete and return the form entitled ‘Request a Cash Equivalent Transfer Value’. Please Note: If you are an active contributing member, the Fund will need to request your current pay details from your employer.
What is a CETV divorce?
As part of a divorce settlement (or a settlement resulting from the dissolving of a civil partnership), the law allows the current value of a teacher’s pension benefits to be shared. The first stage towards Pension Sharing is for Teachers’ Pensions to provide an up to date Cash Equivalent Transfer Value (CETV).
What is a good CETV?
What is a good CETV multiple? CETVs can range from anywhere between 20-25 times your pensionable income, although some schemes offer surprisingly generous transfer values and some far less.
How do I calculate my pensionable earnings?
Basic pay is the most common method of calculation for defined contribution pensions. In this method, pensionable earnings = the employee’s basic salary before any bonuses, overtime or commission.
What does CETV stand for in pension calculator?
A Cash Equivalent Transfer Value (CETV) is the amount your pension scheme will give you if you decide to transfer your pension. It is supposed to represent the value of the benefits you are giving up. If you don’t have yours yet you can use our simple calculator to get an estimate
How can I get an estimate of my NHS pension?
To get a quick estimate of the benefits your NHS pension scheme will provide on any retirement date selected by you, just download our handy calculator.
How often do I need to do CETV calculation?
Defined benefit pension scheme members are entitled to one CETV calculation per year. Most will also offer a further re-calculation for a small fee. It’s very important to fully understand both what you have in place, and what other planning options are available.
Is there a calculator to calculate pension transfer?
Our defined benefit pension transfer calculator has been designed using current industry averages, giving you a realistic idea of how much you stand to be offered as a transfer value. It couldn’t be easier.