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Anyone know about public sector pension CETV please?

9 replies

Mebloo · 24/08/2011 07:02

Am in the unfortunate position of trying to get my head around financial implications of separation/divorce.
Is anyone involved in a case where either partner has a public sector pension, and would be prepared to help me work out roughly what my H's CETV might be, please? Would need to be in a scheme like NHS/USS/teachers, ie one that is either 3/80 lump sum + 1/80 pension, or 1/60 pension with commutable lump sum.
Calculation would be something like:
CETV = (pension x ???) + lump sum.
I need to know roughly what ??? is!
Let me know if you are not great at maths and want a more step by step guide of how to calculate. Thanks.
Also, if anyone know how pension pots are dealt with in shorter marriages, please share! Do they ignore what you have accrued before the marriage?

OP posts:
Wisedupwoman · 28/08/2011 09:08

I don't know much about this, so don't know if this helps.

I'm in the same process. Both XH and me are in public sector and in mediation. We have both had to get the CETV to exchange for the next meeting. From that my sol will calculate my entitlement.

XH has extremely generous pension partly due to length of service and partly because of MH officer status (which the govt has left alone for now).
He will get 2/3 of final salary plus big lump sum, double final salary and then 2/3 of that for the rest of his life. I don't know yet what my sol will calculate, it depends on length of marriage (20 years for us) my contribution to the family (working M and bulk of childcare to support his career). i think the pension split will be calculated on the equity split of the home and how much I accept (we have a 16yr old DC who lives with me).

I would suggest you get your sol to advise you on what you need to do. You can't get divorced and do a clean break without the CETV plus full financial disclosure on both sides. Failing that try wikivorce, there are many experienced legal and pension advisors there who will help.
Hope this helps. It's not a simple one size fits all I'm afraid.

Good luck.

susiedaisy · 30/08/2011 23:07

Cetv's will be required from both of you as part of the divorce settlement I believe, I work for Nhs and had to provide one for my exH solicitor, it took two months to be completed by the pensions dept, the first one is free but if you require another one months later it costs several hundred pounds,

lemonstartree · 24/10/2011 09:02

I am in the NHS and have ended up giving 20% of my pension to my ex husband. He has very little pension ( until now! ) Ultimately you will need to agee with your ex husband what the fair split is, mediation can help here - there is no 'right' answer and many variables

PooleFamilyLaw · 01/11/2011 12:14

Hi Mebloo

As a specialist family solicitor, I regularly deal with matrimoninal financial issues concerning private and public pension valuations.

You ask, "help me work out roughly what my H's CETV might be, please". I don't consider this to be the right question to ask on Mumsnet because your H should be producing full details of his pension to you including his pension valuation (as part of the disclosure process). You should then consider whether the valuation and other figures stated on H's pension scheme documents are a true reflection of his pension. You might need help from a pensions actuary for this.

Then, you'll need advice on how the value and other benefits of H's pension can be taken into account as part of anoverall financial settlement with H (pensions needn't / shouldn't be considered in isolation from other assets such as a house).

Look for speciliast advice via Resolution -

Collaborate · 02/11/2011 07:08

I agree with PooleFamilyLaw OP. If you think you can substitute proper advice over something as important as this with a few anonymous responses on a messageboard your're bonkers.

Mebloo · 10/11/2011 10:16

Thanks for your comments and concern. I'm not bonkers - promise! I'm several steps ahead of myself and doing basic information gathering to see whether, if I divorced, I would be able to afford to remain in our current home. I wouldn't dream of divorcing without the proper advice and valuations. I was just trying to get a feel for the size of the sums involved.

If anyone is able to give me a rough idea of the multiplier, as per my original post, I'd be most grateful.

And I've a couple of other general Qs for any lurking lawyers if they would be so kind - how are assets acquired pre-marriage taken into account? More than half of his pension fund was accrued before we married, and about half the equity in the house. Is that part taken out of the joint marital pot? Wikivorce calculator seems to add 10% of pre-marital assets to the joint pot for each year of marriage. Is that standard practice?

(Married ~10 yrs, 2 kids, I'm main carer, English jurisdiction)

OP posts:
planetpotty · 10/11/2011 10:52

Sent you a PM Smile

Collaborate · 12/11/2011 00:02

There isn't a standard multiplier. It depends on your ages, and each individual public sector pension scheme has its own way of calculating the CEV.

On 26 October HMRC directed all public sector pension administrators to calculate CEVs using new assumptions. It will take months for this to be sorted out and in the meantime I understand that no CEVs are going to be issued.

Pre-marital assets are generally shared in the other party cannot have their reasonable needs met without having recourse to it. If that is the advice that Wikivorce are dishing out then bloody hell, take it with a huge pinch of salt. Haven't a clue where they got that from. It's not the law.

Takeresponsibility · 14/12/2011 16:48

I have used wikivorce and the advice is good but the calculator is rubbish. Even so, unless they have changed it it does not allow 10% of pre marital assets for every year you were married.

10 years married with 2 kids is not considered a short marriage the important thing is that the children are housed.

You will know that you are expected to maximise your income as well as looking to him for support, if your children are very small or disabled them your contribution will obviously be smaller than if your children are in their teens and you can go out to work.

It is really impossible to work out the financial division without knowing much more of the circumstances.

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