Sometimes you will not know the Cash Equivalent Value (CEV) of you or your spouse’s pensions. We need to have an indication of the value of your pensions to be able to provide you with a sensible fee estimate.

You can use the following as a broad guide to the values of a pension when you do not have access to a recent CEV.

If the **pension is in payment** so that money is being received monthly from the scheme then take the **amount of the pension and multiply it by 25.** For example, if the gross annual income is £8,000 then the estimated pension value would be 25 x £8,000 so £200,000. Another example would be if the monthly net income is £1,600 then estimate the CEV as follows: calculate the annual income so 12 times by £1,600, which is £19,200, and then the estimated pension value would be 25 x £19,200 so £480,000. Use this approach regardless of the age of the person concerned and do not worry if you only know the net monthly income. Remember, it is only a guide. The actual CEV will almost certainly be different to the estimated value since the actual value will depend upon many different factors.

If the **pension is not in payment** and the scheme provides **defined benefits or final salary benefits or Career Averaged Revalued Earnings(CARE) benefits** then take the **amount of the pension and multiply it by 20.** For example, if you can see a benefit statement that says the annual pension is £8,000 then the estimated pension value would be 20 x £8,000 so £160,000. Use this approach regardless of the age of the person concerned. Remember, it is only a guide. The actual CEV will almost certainly be different to the estimated value since the actual value will depend upon many different factors.

If you do not know the amount of pension then enter an estimated value of £50,000 if the person has been or was employed for 5 years or less, enter an estimated value of £125,000 if the person has been or was employed for more than 5 years but less than 10 years, enter an estimated value of £250,000 if the person has been or was employed for more than 10 years but less than 15 years and enter an estimated value of £350,000 if the person has been or was employed for more than 15 years.

If the pension is a **personal pension or defined contribution pension or money purchase pension** then enter an estimated value of £50,000 if the person is aged less than 40, enter an estimated value of £100,000 if the person is aged between 40 and 50 and enter an estimated value of £250,000 if the person is aged over 50.