Defined Benefit Pension Transfer Value Calculator
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Cash equivalent transfer value calculator the pension calculator below gives you an indication of the cash equivalent transfer value that you may expect to receive for your final salary pension.
Defined benefit pension transfer value calculator. For a defined benefit scheme the transfer value of your pension simply means the cash amount that your pension pot would be worth if you were to have it transferred it to a different provider or scheme. The age your final salary scheme lets you start drawing your pension how much your final salary pension is worth in terms of annual income and the year which you were given that valuation. Defined benefits pension transfer value calculator this calculator estimates the cash equivalent transfer value cetv you might be offered based on your deferred pension the income you could receive and the residual pension fund values that would likely be available to pass onto beneficiaries. If you re able to transfer out of your defined benefit scheme and this involves cash equivalent transfer value of 30 000 or over you ll be required to get regulated financial advice first.
Your actual value may differ and you will need to contact your scheme administrator for an accurate estimate of. The trustees of the scheme can t transfer any value of 30 000 or over unless this has been signed off by a regulated financial adviser with the required specialisms. This defined benefit pension transfer value calculator offers you an estimate on what the db transfer value could be based your deferred pension. In my case the annual pension benefit is 14 892 and anyone under the age of 50 has a present value factor of 9 0.
It cannot be used for straddling pension input periods in 2011 12. This tool can be used to estimate the amount of annual allowance used in defined benefit pensions schemes. It calculates for years 2008 09 through 2020 21 inclusive. You can read about it in detail here but in a nutshell it takes my age annual pension benefit and something called a present value factor to determine the maximum transfer value mtv.
Things work differently for defined contribution schemes as the transfer value for these products would be the value of the investment. Please note that this defined benefit pension transfer value calculator will only give you an approximate indication. The only concrete details you ll need to use our defined benefit pension transfer calculator are.