CETV Request: How To Get 2nd CETV || (Cash Equivalent Transfer Value on Final Salary Pension Scheme)
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There are lots of our clients who ask about CETV requests and “how often can I request a CETV?”. If you are new to the Final Salary Pension Transfer, CETV (Cash Equivalent Transfer Value) is one of the most important parts of the Final Salary Pension Transfer. Particularly, if your Final Salary Pension is worth more than £30,000 then you have to make a CETV request as well as have an IFA to give you advice in your Final Salary Pension Transfer.
However, a CETV is only valid for 3 months, while the process of your Final Salary Pension transfer might take up to 6 months. This is where 2nd CETV and CETV requests come into play. As a general rule of thumb, you are entitled to a single free CETV in every 12 months, which means you have to pay again for the 2nd CETV whenever you make a CETV request. Clients are generally upset when they have to pay again for their CETV.
However, there are crucial considerations that you need to understand which will make you think twice about paying your 2nd CETV. Tune in to this video to understand all of those important considerations as explained by our CEO and Independent Financial Advisor, Dominic James Murray.
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Your Common Misconception on 2nd CETV
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Key Points In This Video:
• CETV
• 2nd CETV
• Validity Period of Your 1st CETV
• The Cost of 1st and 2nd CETV
• Your Statutory Right for a Free CETV
• Why You Should Act Quickly
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Video Timestamp:
00:00 – Intro
00:21 – What Does a 2nd CETV Mean?
00:49 – When You Should Request Your 2nd CETV?
01:11 – Your Statutory Right to a Free CETV
03:24 – What You Need To Do With Your 2nd CETV?
04:43 – Is It Possible To Get a Higher CETV Than Now?
05:13 – Our Perspective on the Current CETV Situation
06:13 – Outro
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