Divorce
If you’re going through a divorce or ending a civil partnership, your LGPS pension may be considered as part of the financial settlement.
You may need a Cash Equivalent Value (CEV) – sometimes called a Cash Equivalent Transfer Value (CETV) – to show the value of your pension rights.
Getting a pension valuation:
- You’re allowed one free CEV per year – you can request one current CEV each year at no cost
- A current CEV shows the total value of your benefits. It won’t be split over your period of marriage and can’t be used for pension sharing purposes
- If you’re a deferred member, you can get a CEV through My Pension Online by selecting Explore My Transfer Options
- Pensioners can’t be given a current CEV, as benefits are already in payment.
If you need a valuation for pension sharing
You’ll need a proportioned CEV showing only the value built up during your marriage or civil partnership. This has a fee:
- Pensioners: £303 + VAT
Complete this form (also found at the bottom of this page). You’ll be sent an invoice which needs to be paid before you receive any information
Pension Sharing Orders
If the court issues a Pension Sharing Order:
- A percentage of your benefits is transferred to your ex-spouse or ex-civil partner – they keep that share for life
- Your own pension and any lump sum are reduced by this amount (known as a Pension Debit)
- The Pension Debit is increased in line with inflation from the date it’s calculated until you take your benefits
You can choose to top up your pension after a Pension Share by:
- Buying extra scheme pension
- Paying Additional Voluntary Contributions (AVCs) or Free Standing AVCs
- Contributing to a personal or stakeholder pension.
Offsetting pension rights
Instead of sharing the pension, you and your ex-partner can agree to offset its value against other assets.
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For example: you keep your pension, and they receive a larger share of the family home.
Forms
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Divorce and Dissolution Form
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Nomination Form Beneficiary