A cash equivalent transfer value (CETV) is the cash value placed on your pension benefits. This is the amount that is available to transfer to an alternative plan in exchange for giving up your rights under the scheme. It is necessary to apply for your CETV statement if you wish to transfer from the scheme.
To request a CETV, The NHS Pension Scheme member should contact PCSE. They will need to provide their full name, address, National Insurance or NHS pension scheme reference number (SD) number and the area they work in. If they work at a GP practice, they will need to provide the practice code.
PCSE will then complete the PD2 form will send this to the Member’s home address with a covering letter, PD1, PD3 (if required), Pensions on Divorce Factsheet and the schedule of charges.
The Member will then need to complete the PD1 and send this with the relevant fee to the Pensions Division at NHS Pensions, PO box 2269, Bolton, BL6 9JS to be processed.