Cash equivalent transfer value | Practical Law

Cash equivalent transfer value | Practical Law

Cash equivalent transfer value

Cash equivalent transfer value

Practical Law UK Glossary 7-206-3997 (Approx. 5 pages)

Glossary

Cash equivalent transfer value

Members of occupational pension schemes and personal pension schemes have a statutory right, in certain circumstances and provided certain conditions are met, to take a cash equivalent transfer value (CETV) to another registered pension scheme. The statutory right is provided by Chapter 1 of Part 4ZA of the Pension Schemes Act 1993. The amount of the transfer payment is calculated on a prescribed basis, see cash equivalent.