If you are providing financial advice to one of our members you may want a transfer out quotation (CETV).

Please note, we currently only send transfer out quotations directly to our members. This is the case even if you have a valid Letter of Authority. Guaranteed transfer values have an expiry date three months from the date of calculation.

Most deferred members are entitled to one statutory CETV within a 12 month period. This guaranteed transfer value is valid for three months. From 1 March 2021 we will charge for any additional guaranteed transfer values requested within that 12 months. Members can get an illustrative (unguaranteed) transfer value on the BTPS member portal.

Forms and information

The information we include in the Transfer Out Quotation direct to members includes:

• Normal Pension Age (NPA)
• Pensionable Salary
• Guaranteed Transfer valuation inclusive of any AVCs
• Annual pension, Lump sum, Spouse’s pension, and GMP entitlement (Pre and Post 1988) as at last day of service
• Date joined scheme, reckonable service in years and days, and the full contracted-out period
• Transfer-in and court order information (if applicable)

Member guides

Scheme information

• CETV for divorce charges

  The charges around earmarking or pension sharing orders are as follows:

  For all active and deferred members and for pensioner members who are under their Normal Pension Age:

  Activity	Charge*
  Providing an initial Cash Equivalent Transfer Value Quote for divorce purposes if you have a statutory right to receive this	Free
  Providing a further Cash Equivalent Transfer Value Quote for divorce purposes on the same basis if you don’t have a statutory right to receive this. For example, within 12 months of your last request	£270
  Providing extra information in response to specific requests after receiving a Pension Sharing Order or being notified one may be made	£330 per communication
  Implementing a Pension Sharing Order if your ex-partner transfers to a scheme of their choice	£2,100
  Providing extra information in response to specific requests after being notified of an Earmarking Order	£120 per communication
  Implementing an Earmarking Order	£540

  * All charges are inclusive of VAT

  For pensioner members who are over their Normal Pension Age:

  Activity	Charge*
  Providing a Cash Equivalent Transfer Value (CETV) where the member doesn't have a statutory right to receive one (as is the case for a retired member).	£1,080
  Providing extra information in response to specific requests after receiving a Pension Sharing Order or being notified one may be made.	£330 per communication
  Implementing a Pension Sharing Order if your ex-partner transfers to a scheme of their choice	£2,550
  Providing extra information in response to specific requests after being notified of an Earmarking Order	£120 per communication
  Implementing an Earmarking Order	£540

  * All charges are inclusive of VAT