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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 1928
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I am going through a divorce and was given a CETV 6 months

Resolved Question:

I am going through a divorce and was given a CETV 6 months ago
I have an NHS pension
I have been contacted again and been told due to new changes from April 2016
They will be sending out a new CETV
This is going to take some time- 2 months
We already have an acturist involved and they have asked if I want to continue the pension sharing report based on the old CETV or wait for the updated one.
I am not sure of the implications of the changes and how that will affect me - worse or better. Is there a website you could direct me to review what these changes are.
I have a significantly larger pension pot that my ex. many Thanks
Submitted: 7 months ago.
Category: Law
Expert:  Harris replied 7 months ago.

Hi, thank you for your question. Are there currently court proceedings in place and if so, what is the next hearing?

Please also confirm what each of your pensions are worth?

Customer: replied 6 months ago.
Hello,
No there are no court proceedings. We are doing the concent order‎. My ex wanted to get an acturist report and they have contacted me to sign authorization forms etc but also commented about the new pension changes and if I wanted to go with the old CETV I have or wait for an updated on which may take some.
Margaret
Expert:  Harris replied 6 months ago.

Thanks. The main pension changes (for private pensions) took place in 2015, in which you would be able to draw your pension as lump sums when you reach 55 years old.

The changes that were implemented in April 2016 were mainly in relation to the state pension so will not impact your CETV.

In any event, as you are not in court proceedings it is for you and your ex to agree which figures to use and at which cut off date. If either of you were to proceed to court you would need to obtain an updating CETV for the proceedings.

I hope this assists you. If you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for your question without a positive rating. Thank you

Expert:  Harris replied 6 months ago.

Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.

Customer: replied 6 months ago.
Thank you. You say the changes of 2016 do not impact the calculation of of CETV, but it was the (nhs- Pensions department)
who contacted me and said they will send me a revised CETV at no xtra cost). Will the actuirst not be using these figures to calculate what the percentage share/ figure should be. As I said in the first question to you, she was the one who asked me if I wanted to wait for the update CETV before she does her report. Once the decision has been made it cannot be changed.
Although this has been dragging on I have quite a large pension pot that he is entitled too. I want to be sure that not waiting for the updated CETV will put me at a financial disadvantage in the long run. Thanks Margaret
Expert:  Harris replied 6 months ago.

It may just be an update to your CETV. The acturist will likely want to work on updated figures as this will impact matters if it proceeded to court.

Customer: replied 6 months ago.
Will it only go to court if we disagree on the findings of the acturist (ie the percentage share). If that is the case are you saying there is no advantage in delaying the acturist report by waiting for another CETV
Expert:  Harris replied 6 months ago.

Court proceedings will only commence if either of you pursue an application - for example if no agreement can be reached.

The actuary can still report back based on the previous figures and once you have obtained the updating CETV they can provide an updating report outlining if their position differs due to the change of CETV.

I hope this assists you. If you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for your question without a positive rating. Thank you

Harris, Law Specialist
Category: Law
Satisfied Customers: 1928
Experience: Family Law - Specialist in Divorce, Financial Relief and Children Matters
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