A CETV is the total value of your pension benefits in the NHS Pension Scheme.
If you have pension benefits in both the 1995 or 2008 Section and the 2015 Scheme, you’ll receive a CETV for each one.
A CETV includes any:
- Added Years you’ve purchased
- Additional Pension you’ve purchased
- membership you’ve transferred into the Scheme
- Early Retirement Reduction Buy Out (ERRBO)
The Government Actuary Department (GAD) decide the factors used in the calculation of a CETV. If you receive different values compared to a previous CETV it may be because of:
- a change in pensionable pay
- the membership used
- different factors that have been used in the calculation
What is a CETV needed for
A CETV may be needed for:
- transferring out of the Scheme
- Pensions on Divorce or Dissolution of a Civil Partnership
If you have less than 2 years qualifying membership in the NHS Pension Scheme, a CETV cannot be provided for divorce or dissolution of a civil partnership purposes.
Prenuptial agreement or divorce
If you need a CETV for a prenuptial agreement or divorce, you must complete a PD1 form.
Your employer must also complete a PD2 form if you’re actively paying into the Scheme.
Court Order
You’ll need a CETV if the courts need to consider the value of pension benefits in the proceedings.
If you're in receipt of a Court Order, complete a PD3 form.
This must be completed and sent to us with the Court Order.
Hypothetical CETV
You can request a CETV for information or financial purposes by completing part A of the transfer out guide and application pack.
If you’re an active member, your employer must also complete an FA11A.
Charges for requesting a CETV
You can request a CETV free of charge every 12 months unless:
- you’re a deferred member over your Normal Pension Age (NPA)
- it’s for a period that’s already been transferred out or refunded
- you’re a pensioner.
If you’ve retired from one section and are continuing to pay into the 2015 Scheme, you do not need to pay for the CETV.
Paying for a CETV
The payment must be sent to:
Sort code: 60-70-80
Account number: 10021205
Use your SD number or National Insurance (NI) number followed by your surname as the reference.
If you want to pay by cheque, it must be payable to ‘NHS Business Services Authority’.
Timescales
We'll provide you with a CETV and any additional information within 3 calendar months of receiving your request form(s).
If you're a pensioner receiving your NHS Pension, your CETV is automatically fast tracked for completion within 6 weeks.
The CETV will be valid for 3 months.
Pensions on Divorce or Dissolution of a Civil Partnership
If your Court Order says the CETV must be provided before the 3 calendar months timescale, you must apply for your CETV to be fast tracked. This will be issued within 6 weeks for a charge.
If the Court Order includes an order to us to provide the CETV by a specific date, send a copy of the Order to us. The CETV will be provided free of charge.
Read more information on Pensions on Divorce or Dissolution of a Civil Partnership on our website.