The BBC recently reported that thousands of teachers across the country are facing delays in getting pension valuations from the Teachers’ Pension Scheme. This is causing serious delays in finalising divorces and is happening across all public sector pensions
It’s in a divorcing couple’s best interest to get a clean break financial order from the court. This ensures that neither can make a financial claim on the other, even after death.
To get a financial settlement, you need accurate information about your finances, including property, savings, and pensions. The pension valuations are called ‘cash equivalent transfer valuations’ (CETVs) and are needed to decide if a pension should be, or how it is, shared by a divorcing couple.
CETVs can be obtained from the pension provider. The Teachers’ Pension Scheme is run by the Department for Education. It’s one of the biggest pension schemes in the country with around 2 million members.
It’s struggling, with about 2,000 teachers waiting for CETV valuations at the start of December 2024. The Department of Education says this number has now dropped by about 700, but new cases are coming in. Some members have been waiting over two years for a valuation.
The government says this is because of a court judgment in 2018 (the McCloud Remedy) that means extra calculations and specialists are needed to value public sector pensions.
But this doesn’t help those who are stuck in limbo and can’t get a divorce until their pensions are sorted. Even those who have complained to the Teachers’ Pension Scheme feel like they’re getting the runaround with vague answers.
While separating couples can divorce without a financial order, this is usually not in their best interests and could leave them financially vulnerable.
Divorce is tough enough, but delays in pension valuations can make it even worse. While Family Matters can’t promise a quick fix for your public sector pension scheme CETV, mediation can help ease the stress of divorce by offering an affordable way to sort out differences about your children and finances with the help of an experienced, professional mediator who won’t take sides.
Our mediators are experts in all things financial, including pensions, and can give impartial advice to both parties. They’ll guide you through the process of reaching a financial settlement that works for everyone involved.
