The cash equivalent transfer value should normally be quoted. This should be calculated using the same approach as would apply to a normal non-Club transfer value, even if the member is not normally entitled to a transfer value. This calculation is subject to an underpin if the member has transferred benefits in from another scheme and is covered in the NHSPSS CETV guidance.

The calculation date should be selected in line with the approach set out in Cash equivalents on divorce: general considerations.

There may be additional information requirements and considerations where members have previously elected for Scheme Pays. In general the determination of cash equivalents in respect of benefits yet to be put into payment should take Scheme Pays debits into account.

For contributing NPA 55 members (who are under NPA) a cash equivalent transfer value should be quoted as covered above. However this transfer value will be calculated assuming a vesting age of 60. Therefore, should a pension sharing order be implemented but the member subsequently retires before age 60, an early retirement reduction should be applied to the pension debit. Please see the early and late retirement guidance for further details.

If the member's pension is due to be reduced because an allocation option has been taken out, then the benefits after allocation should be used i.e. reduced member's pension and increased dependent's pension (including subsequent pension increases).