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CETVCash Equivalent Transfer Value (UK)
CETVChina Entertainment Television
CETVCenter for Entrepreneurship and Technology Venturing (University of North Carolina)
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Cash equivalent A cash equivalent transfer value can frequently be an unhelpful and sometimes misleading guide to the approach to be taken with the pension in question.
For example, in a recent case, an individual who worked in this sector for 16 years and was on a final annual salary of PS75,000, was offered a cash equivalent transfer value (CETV) of PS1 to move to a defined-contribution (DC) scheme.
"Our primary concern is that DB scheme members requesting a cash equivalent transfer value have all the information they need to make an informed decision about what is in their best interests.
Q I have requested a Cash Equivalent Transfer Value from my defined benefits pension scheme, who have now replied.
Since April 2015, anyone seeking to transfer benefit from a defined benefit pension scheme, with a Cash Equivalent Transfer Value of PS30,000 or greater, must take financial advice prior to any transfer of benefits.
QI HAVE been informed by my pension provider that I can only request a cash equivalent transfer value once per year, which I did in June 2015, and that I would be required to pay PS150 plus VAT to receive an updated value.
The starting point for a divorce settlement on pensions is to request a cash equivalent transfer value from the pension trustees.
This included a real increase in the cash equivalent transfer value of his pot during 2009-10 of pounds 52,549 and a real increase in pension benefit of pounds 2,304.
The most valuable pension went to Chief of Defence Staff Sir Jock Stirrup, whose pot has a cash equivalent transfer value of pounds 2.55 million - equating to an annual pension of around pounds 130,000 as well as a lump sum of about pounds 380,000.
However, you will have the option to leave your benefits to accumulate within the scheme as a deferred benefit, or you should be entitled to a Cash Equivalent Transfer Value which you could transfer into another scheme.
This does not apply to defined benefit arrangements (also known as final salary, career average or cash balance arrangements), but any member of a defined benefit arrangement has a statutory right to transfer a "cash equivalent transfer value" to another arrangement, such as a money purchase pot.
Upon request most schemes will give you a Cash Equivalent Transfer Value, or CETV, which you can use to compare pension income quotes.