Case Study 2 - The Undervalue Cash Equivalent Transfer Value
Background
- Our client, Mr S approached us with a cash equivalent transfer value (CETV) for his ex wife’s pension valued at £90,000.
- His pension had been valued significantly higher but both parties were members of the same pension scheme.
Concerns
- He felt that the current CETV significantly undervalued the pension benefits of his ex wife.
- His pension was in payment and his cash equivalent of benefit (CEB) calculation was overvaluing his pension benefits.
What We Did
- We instructed an actuary to independently and professionally assess the current value of the pension.
- We reviewed the CETV to ascertain what benefits it took into account.
The Results
- Increased the valuation to £145,000.
- He was able to enter the negotiations with more confidence knowing that the pensions had been independently and expertly assessed.
- Ultimately, he was able to defend his pension benefits by increasing the value of her benefits.
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