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Temporary suspension of CETV calculations

Publication date: 06/04/2023 14:30:25

The Government has recently made changes to certain factors used in transfer calculations which means we need to temporarily suspend providing some calculations. This will affect requests to transfer in a previous pension, or have requested a cash equivalent transfer value (CETV) because of a divorce or a transfer out. It specifically affects:

• certain non-club transfers and interfund calculations
• certain non-club cash transfer sums
• all cash equivalent values (CETV) for divorce.

Why has this happened?
HM Treasury has published revised guidance on the discount rate used to calculate cash equivalent transfer values (CETVs). This means that Government Actuaries Department (GAD) advice on actuarial factors for CETVs, and related calculations, is no longer valid.

What happens next?
We understand that Government will issue revised guidance as quickly as possible to help minimise delays. If you are affected by the temporary suspension we will provide the calculation to you once we’ve received the revised guidance.

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