£25 Actuarial Report values a defined benefit scheme. It takes only 10 minutes online and gives you a 5-page report signed off by an accreted actuary click here
Pension values 30% greater than the CETV.
On divorce find out if the provider quote values the pensions fairly. Start here by comparing some valuation examples
T
v T (1998)
In this case the couple were married for 14.5 years and
at the time of divorce
they had no children. The wife had worked for 7 years,
was entitled to £175,000 to purchase her own house
and 50% of £36,000 of join savings. She was also
entitled to £22,000 per annum in maintenance until
her remarriage or death, reducing to £17,000 after
a year assuming she could earn £5,000 per annum
herself.
The court held
that the law did not require the court to make compensation
for loss of pension rights, despite the request from
the wife for an earmarking order on her husband's pension,
and compensation for potential lost widows pension.
Only the husband's death
in service benefits were earmarked. The Judge considered
the valuation method used by providers being the cash
equivalent transfer value (CETV)
but questioned the possibility of finding an accurate
value and therefore whether the CETV
Method was worthwhile.
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