When going through a divorce or separation, understanding how to divide financial assets, particularly pensions, is crucial. Pensions often represent one of the largest matrimonial assets, sometimes exceeding the value of the family home.

Dividing pensions fairly requires a clear understanding of their value, which is typically provided as a Cash Equivalent Transfer Value (CETV).

For couples navigating financial settlements on divorce, delays in receiving CETV figures—particularly from public sector pensions like the Teachers’ Pension Scheme—can create significant challenges.

Why pension valuation is essential in divorce settlements

To ensure a fair financial order on divorce, all assets must be disclosed. This includes:

• Family home value
• Savings accounts and investments
• Jointly owned vehicles or other possessions
• Pension values, particularly CETV figures

Unfortunately, members of the Teachers’ Pension Scheme are facing substantial delays in obtaining CETV figures due to changes following the McCloud judgment in 2018. This resulted to a change in how the CETV figures are calculated. These delays are causing backlogs, with some members waiting months or even over a year for their CETV.

The impact of CETV delays on financial settlements

Delays in receiving CETV figures can have serious consequences, including:

• Longer divorce proceedings: Without accurate pension values, it’s impossible to finalise a fair financial settlement.
• Increased legal costs: Extended timelines often mean additional legal fees for both parties.
• Emotional distress: Delayed resolutions can cause frustration and strain, leaving divorcing couples feeling stuck in limbo.
• Heightened conflict: Delays may lead to increased animosity, making the process more difficult.

Minimise delays in pension division

If you or your spouse has a public sector pension (NHS, Fire Service, Police) or a Teachers’ Pension, requesting your CETV as early as possible is crucial. Acting early can help avoid unnecessary delays, reducing the emotional and financial impact of prolonged divorce proceedings.

It’s also important to resolve all financial matters holistically. Agreeing on a financial order before the final divorce order is issued ensures clarity and prevents future disputes.

Expert legal guidance for pension and divorce matters

Are you navigating a divorce involving public sector pensions or struggling with delays from the Teachers’ Pension Scheme? Our experienced family law solicitors can help you understand your rights and guide you toward a fair financial settlement.

Whether you’re ready to proceed or just need advice, we’re here to help you secure your future.

Contact us today for a free initial 30-minute consultation call us on 0800 1380 458 or email help@switalskis.com and start your journey toward resolution and peace of mind now.