Tools
Estimate the indicative Cash Equivalent Transfer Value (CETV) of a UK defined benefit pension. Three scenarios. Three steps. Illustrative only.
Not financial advice. Actual CETV must be obtained from your scheme administrator. DB transfers above £30,000 require regulated advice.
Why does your CETV matter as an expat?
If you left a UK employer before retirement and built up defined benefit pension rights, you may have a deferred pension sitting dormant in a scheme. As an expat, you may have options around transferring this to a SIPP (for UK residents and some non-residents) or a QROPS (for those permanently based abroad). Understanding your indicative CETV is the first step in evaluating those options - and knowing whether the conversation with a specialist is worth having.
CETV Estimator
About your pension scheme
Tell us about the scheme you left. Don't worry if you're unsure of some details - we'll use sensible defaults.
Is a DB pension transfer right for you?
Transfers above £30,000 require regulated advice by law. We can introduce you to a qualified specialist.
Questions
What is a Cash Equivalent Transfer Value (CETV)?
A CETV is the lump sum your defined benefit (DB) pension scheme would offer you in exchange for giving up your right to a guaranteed income in retirement. It represents the scheme's actuarial estimate of the cost of providing your promised pension — and it fluctuates with interest rates, your scheme's funding position, and your age.
Can I transfer my defined benefit pension to a SIPP or QROPS as an expat?
In some cases, yes. A SIPP (Self-Invested Personal Pension) is available to UK residents and some non-residents. A QROPS (Qualifying Recognised Overseas Pension Scheme) may be available to those permanently resident abroad. However, DB transfers above £30,000 require regulated financial advice by law, and the suitability of any transfer depends on many factors including your health, other income sources, and jurisdiction.
Is a DB pension transfer always the right decision for expats?
Not necessarily. A defined benefit pension provides a guaranteed income for life — which has significant value, especially if you have no other guaranteed income sources. A high CETV may be attractive in isolation, but the decision to transfer depends on your health, financial resilience, risk appetite, and long-term plans. This illustrator helps you understand the scale of the value; regulated advice helps you decide whether transferring it makes sense.
Do I legally need regulated advice to transfer my DB pension?
Yes — if the transfer value is above £30,000, UK law requires you to take regulated financial advice from a qualified adviser before a transfer can proceed. This is a statutory consumer protection measure. Pharos can introduce you to a specialist who can provide that regulated advice; we do not provide it ourselves.
More questions? Visit our full FAQ
A CETV estimate is only the starting point. A regulated specialist can assess transfer suitability, tax position, and the real trade-offs behind the number.