How do I request a Cash Equivalent Transfer Value (CETV)?
Your new pension provider will require a Cash Equivalent Transfer Value (CETV) quotation from Merseyside Pension Fund. Under the provisions of the Pensions Act 1995, the Fund will guarantee this quotation for a period of three months from the date of calculation (known as the ‘Guarantee Date’).
You can request one free CETV quotation within a 12 month period. Any further CETV requests will incur a charge of £180 (Inc. VAT) per quotation.
You will not be eligible to request a CETV from Merseyside Pension Fund if:
- you are within 12 months of your Normal Pension Age, or
- you hold a current active membership as well as a deferred or pensioner membership in the LGPS.
If you would like to request a CETV of your pension benefits, please download, complete and return the form entitled 'Request a Cash Equivalent Transfer Value'.
Please Note: If you are an active contributing member, the Fund will need to request your current pay details from your employer. This will be requested once we receive your fully completed CETV request form.
The Fund aims to produce the CETV within 10 working days from receipt of all information essential to the calculations. Please note in these unprecedented times we would be very grateful for your patience. We are managing our workloads in priority order so our response times may be longer than usual .
CETV quotations are sent directly to members only, Merseyside Pension Fund will not send this information to third party companies.
On receipt of the CETV quotation, your new pension provider will advise you of the additional benefits the transfer will buy in their scheme. A written option to proceed with the guaranteed transfer value must be received within the three month guaranteed period.
If you opt to proceed with the transfer of your LGPS benefits to another scheme, the normal time limit for payment of the guaranteed transfer value will be six months from the ‘Guarantee Date’. If payment is not made within this period, the Fund will need to recalculate the value as at the actual date of payment and pay the recalculated value or, if it is greater, the original value plus interest.