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   Pensions Valuation
Valuation examples
Valuation Examples
Pension values can be
30% higher than the CETV.
  Valuation Examples  
 
Valuation reports
Valuation Reports
From only £80 you can value
a defined benefit scheme.
  Valuation Reports  
   Uniformed services valuation
  Uniformed Services Valuation
  Introduction   Police Force example
     
     
    

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Introduction
Serving police officers, armed forces personnel, fire & rescue and prison officers who continue on service could retire early with an immediate pension.  The value of this pension is significantly greater than that if they left service, as assumed by the CETV.  Therefore the value for a uniformed service pension in a divorce can be significantly understated by the CETV and an appropriate valuation of 3 times the CETV value is not uncommon.

£100 Uniformed Services Report

The off-line actuarial Uniformed Services Report costs only £100 (Excl VAT) per pension scheme valued. It is produced manually and signed off by an actuary, is returned to you in only two working days and includes a reconciliation to explain the major reasons for the differences. You can then discuss the findings of the report with your solicitor. There is no reason why you should not run a valuation on pensions worth less than £30,000, other than the fact that the likely difference in values may not justify the small cost.


Police Force example
The following is a case study example based on the police defined benefit (final salary) pension scheme.

   Policeman details:
  Rank: Constable
  Born: 1970
  Scheme: Police Pension Scheme 1987
  Started service: 1995
  Date of leaving service: After 25 years service
  Valuation date: April 2006
  Current pensionable pay: £30,844
   Pensions valuation:
  £100 Uniformed Services Report: £191,000
  Cash Equivalent Transfer Value: £65,000
  Difference £126,000
   Reconciliation of differences:
  CETV £65,000
  Allowing for pay increases up to retirement increasing final pensionable pay, as opposed to statutory increases in the CETV £51,000
  £100 Report assumes pension payable from age 50, not from 60 £48,000
  £100 Report using latest mortality assumptions £12,000
  Other differences £15,000
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  55 £4,164  
  60 £4,625  
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  60 £4,367  
  65 £4,895  
  70 £5,348  
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