Where the member is under their normal pension age (NPA), and the benefits have not yet come into payment, the cash equivalent transfer value (CETV) should be quoted. This should be calculated using the same approach as would apply to a normal CETV (i.e. non-Club transfer out), even if the member is not normally entitled to a transfer value.

Please refer to our latest CETV guidance for the calculation formulae and the factor tables to use. The calculation date should be selected in line with the Cash equivalents on divorce: general considerations section in this guidance.