i have an nhs pension, and due to propsed changes in the scheme, they wrote to me last year telling me what was currently in my pension, and calculating what i''d have under the existing scheme and if i changed to the new scheme. At that time (aug 2011) it was valued at 57k.
I have just recieved my CETV for Ancillary Relief proceedings, and the figure given is 98k? My hours have not changed at all, how can cetv by 98k when i have only paid around 57k into it?
Realise im probably being daft, but how can there be such a large discrepancy between the two plse?
Its my understanding that recently the government changes from rpi to cpi (or it might have been the other way around!) and this meant that CETV were re assessed by the NHS this plus another years of contributions might explain the big difference.
i''ve had the same problem. mine went from 52k to 104k. i spoke to provider (barclays) and they said it was right, some have quadrupled in value.. all to do with how it is calculated and fund required to provide benefits of scheme...