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.

What Our Clients Say...

Phil is knowledgeable, efficient, pleasant...
“Navigating the intricacies of the pension system during divorce is daunting, but I found the service offered by Phil O’Connor and his team to be exemplary. Phil is knowledgeable, efficient, pleasant and seems really interested in the individual client. Everything proceeded in just the way he had outlined, and what could have been a trying process, was remarkably easy.

I’m not sure that I was either able or willing to undertake the remarkable amounts of paperwork involved in pension sharing, but all of it was handled professional and efficiently on my behalf.

Most of the time, I just had to sign on the dotted line. I wholeheartedly recommend Whitewell Financial Planning Ltd as an invaluable resource for anyone needing assistance with financial planning.”
Mrs Manford

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