A cash equivalent value or “CEV” is something that your solicitor will ask you to obtain during financial settlement proceedings. 

Your pension provider will value the pension as a final figure. This may be different though to the value of your pension fund because it will usually include costs and charges incurred in transferring the pension. If the CEV is not included on your annual benefits statement, you will need to make a formal request to your pension provider. This request should be made as early as possible, depending on the provider and type of pension, this can sometimes take up to three months to obtain the CEV. As long as it is the first time requesting the CEV in a 12 month period and the pension is not in payment, there should be no charge for obtaining this.

George Green’s Specialist Family and Divorce Lawyers regularly advise clients in respect of financial arrangements post separation including regarding pension assets. Our expert Family Solicitors are based in our Cradley Heath, Wolverhampton and Sutton Coldfield offices and can meet with clients in person or via MS Teams.  If you wish to discuss this further please call 01384 410 410 and ask for a member of the family team or complete our online enquiry form and a member of our team will respond.