Kent Solicitors

If you work for one of a long list of organisations within the 'public sector', you can move your pension to your new Employer on advantageous terms - namely you can move your years of service, not the cash equivalent transfer value ('CETV')

In one recent divorce case, in which we acted, the Wife had worked (many years ago) for some 7 years for a local authority and her leaving salary back then was some #7,500 p.a. and her CETV was #18,000. She had now returned to work at #22, 500 with another organisation, but which was in the 'public sector'

In the divorce, the Wife was asking the Court to accept that her pension CETV was #18,000 and she had not taken sufficient steps to ascertain her position under the PSTC

On behalf of the Husband, we persuaded the Court that the true CETV that it should take into account was #54,000. The Wife was transferring in, not a CETV, but her 7 years of service which would then apply to her new salary. Her new salary was 3 times her old one so her new CETV would be 3 times her old one and #18,000 x 3 = #54,000

Labels: divorce pensions public sector transfer club