ArmedForcesExpressPensionValuationForm

1、the serviceArmed ForcesExpress Pension ValuationThe Armed Forces Express Pension Valuation deals specifically with the design features of the Armed Forces Pension Scheme 1975 (AFPS 75) and the Armed Forces Pension Scheme 2005 (AFPS 05). It is a development of our on-line Express Pension Valuation se

2、rvice available at .This particular service is not appropriate for valuing benefits where the pension is already in payment or will be within the next year. If you need such a valuation, we would be happy to help, please contact us.The service is both inexpensive and easy to use. This document is a

3、Word form; we designed it so that you or your client - can complete it on a computer. You will find that all the fields have help prompts that are displayed on status bar within the Word application. Another way of displaying the prompts is to click into the relevant field and press the F1 key on yo

4、ur keyboard. You will find further notes to help you complete the form on page four.To ensure that the service is affordable we employ electronic, rather than paper communication methods and require fees to be paid by credit or debit card before releasing reports.Once it is complete, please send us

5、the form. On receipt, we will run the report - usually within two business days. We will email the report to you as a password protected Portable Document Format (pdf) file and ask you to phone us to make the payment by credit or debit card. When you make the payment, we will give you the password t

6、o unlock the pdf. If you should need it, the email attaching the report will include information on how you can download the free Adobe Acrobat Reader.Professionals Details Profession:Title:Forename:Surname:Firm:Email:Postcode:Dx:Contact phone number:Service Persons Details(The person who has accrue

7、d the pension benefits and will be referred to in the report as the Pensionholder)Title:Sex:First name:Surname:Date of Birth:Rank:Divorce or Dissolution InformationIf the case is proceeding under Scottish Law, put an X in this box - and answer the next two questionsDate of marriage or civil partners

8、hip:Date of separation:Armed Forces Express Pension Valuation ServiceArmed Forces Express Pension Valuation (AFEPV) only, place an X in this box (29.38 including VAT)AFEPV with optional Reconciliation Report (additional 29.38) place an X in this boxWhat is the valuation date for the Express Pension

9、Valuation:The as-at-date for our valuation see notes on page fourPension DetailIf a member of the Armed Forces Pension Scheme 1975 (AFPS 75) place an X in this box, orIf a member of the Armed Forces Pension Scheme 2005 (AFPS 05) place an X in this boxCash Equivalent Transfer Value (CETV) quoted by s

10、cheme:Required if a Reconciliation Report is requiredWhat is the scheme CETV valuation date:Required if a Reconciliation Report is requiredScheme membership start date:Normally the date that they joined the serviceCurrent annual pensionable pay:If left service, give pensionable pay in last full year

11、 of service”Date on which it is assumed the service person will leave service:See notes on page fourAre we to assume that early departure payments or an immediate pension will be taken on leaving service?If yes, place an X in this boxDate left service:If still in service, enter “in service”Have any

12、deferred pension benefits for another scheme been transferred into this pension?If yes, place an X in this box and answer the following two questionsWhen were the benefits transferred in?How many years and part years of added service were credited?To get the Armed Forces Express Pension Valuation Re

13、portComplete this form and email it to Email:afepvFax:0845 130 9092Dx:55103RustingtonPost:Bradshaw Dixon & Moore LtdPO Box 2000LITTLEHAMPTONBN16 9BPWe will run the report and email when it is ready. You must then phone us on 0845 838 2551 to make the payment so that we can send you the report and gi

14、ve you the password to unlock the report.We refer to the person who has accrued the pension benefits as the “Pensionholder”; this may be your client but is more likely to be their spouse or partner. The “Pensionholders” name will appear on the report.There are two levels of Armed Forces Express Pens

15、ion Valuation service. The Armed Forces Express Pension Valuation is the standard Express Pension Valuation (EPV) which mirrors the reports available from the on-line service but with specific changes to the valuation basis to reflect the special nature of the benefits provided by the armed forces s

16、chemes. You can download an example of the standard EPV report from the web site CETVs on armed forces pensions can undervalue the asset markedly, so, for an additional 25 + VAT we will provide an optional Reconciliation Report, which sets out why the fair Armed Forces EPV value differs from the CET

17、V. Select which product you require by checking the appropriate box on page two.The Valuation Date is the as-at-date used in the Armed Forces Express Pension Valuation to calculate the benefit value. Normally this will be the date the divorce or dissolution is expected to be granted (decree absolute

18、) the default option. Alternatively, you may choose to do a like-for-like check against the CETV quoted by the scheme, in which case the Valuation Date should be the date of the CETV. This date is relevant because accruals of pension benefits after the divorce or dissolution are not normally part of

19、 the settlement.The pension scheme is either the Armed Forces Pension Scheme 1975 (AFPS 75) or Armed Forces Pension Scheme 2005 (AFPS 05). Service personnel who commenced service after 5th April 2005 will be in the 2005 scheme. Those who commenced service before will be in the 1975 scheme, unless th

20、ey have elected to transfer to the 2005 scheme. Scheme membership is not compulsory but both schemes are non-contributory. The CETV quoted by the scheme is only needed if you require the optional Reconciliation Report.CETV valuation date is the as-at-date of the CETV quoted by the scheme. This date

21、will be shown on the scheme CETV quote. This information is only needed if you require the optional Reconciliation Report.Scheme membership start date is when the service person first joined the pension scheme. This is usually when they joined the service.If still in service, the current annual pens

22、ionable pay is the annual pay rate. If no longer in service, it is the pensionable pay in the last full year of service. Pensionable pay is basic pay plus the “X” factor applicable but excluding allowances, bonuses, financial retention incentives, loan service pay and any form of specialist pay.The

23、date on which it is assumed that the service person will leave service is when the service person plans to leave service or it is assumed that they will. If the service person has already left service, this should be blank.Depending on which scheme the service person is a member of, on completing th

24、e minimum years of reckonable service it may be possible for the service person to retire and take an immediate pension or receive a pension under the early departure payments scheme. As this is a valuable benefit, assuming that an immediate pension will be taken, will increase the benefit valuation

25、. In which case, this assumption will be stated in the actuarial report.If the service person accrued pension benefits in another scheme before joining the Armed Forces Pension Scheme, they may have transferred deferred benefits into the AFPS. This will have resulted in a pension credit of added yea

26、rs of service in the AFPS. In which case, we will allow for the transfer in the valuation. If you do not know whether benefits were transferred to the AFPS, leave this section blank the default option. Form completion notes1.Definitions1.1In these Terms and Conditions, the following expressions shal

27、l have the following meanings:1.1.1BDM:means Bradshaw Dixon & Moore Limited, of PO Box 2000, Littlehampton, BN16 9BP, having its registered address at Grafton Lodge, 15 Grafton Road, Worthing, BN11 1QR.1.1.2Client:means the professional adviser or in the case of a joint instruction the professional

28、advisers who are commissioning the Report in connection with the advice they are giving to their clients. 1.1.3Individual Client:means the individual to whom the Client is giving professional advice in connection with which the Service is required and who is a client of the Client.1.1.4Services:mean

29、s the provision by Bradshaw Dixon & Moore Limited of an actuarially based report concerning the valuation of a specific asset or group of assets in which an Individual Client of the Client has or may have an interest.1.1.4 Report Fee:means the fee charged by BDM for the Report.1.1.5 Principal:means

30、either (i) those instructing BDM acting on their own account, or (ii) those instructing BDM being authorised to make such commitments on behalf of the firm or business that they represent.1.1.6PENSION relief:means the administration and valuation service operated by Bradshaw Dixon & Moore Ltd 1.2In

31、this document, the masculine shall include the feminine and the singular shall include the plural and vice versa.2.Acceptance of these Terms and ConditionsBy submitting this form or making any other request for the Services, the Client is deemed to have read and accepted these Terms and Conditions.3

32、.CommencementThese Terms and Conditions shall be effective from the date on which the Client instructs BDM to provide elements of the Services, whether by means of an automated request through the PENSION relief service or by any other written means. These terms shall apply to any written instructio

33、ns that the Client gives to BDM in connection with the Services.4.Instructions and Information4.1BDM accepts instructions only on the basis that the Client is a Principal.4.2The Services are provided only on the basis that the Client gives BDM all proper, necessary and timely instructions, authority

34、 and information (including all duly executed documents required) to enable BDM to undertake, lawfully and effectively, the Services instructed and that those instructing BDM indemnify BDM accordingly.4.3BDM shall rely upon information provided by or on behalf of the Client, pension schemes and prov

35、iders and on information from published sources. BDM assumes no liability for the accuracy or completeness of such information and shall have no obligation to independently verify the accuracy or completeness of such information. 4.4 By agreeing to these Terms and Conditions the Client confirms, as

36、an individual or member of a professional firm, that they have the authority to instruct BDM concerning this matter.5.Non-exclusivityIt is understood that the Services are provided on a non-exclusive basis.6.No reliance by Third PartiesThe Services are provided solely for the use of the Client and a

37、part from the Individual Client who is receiving professional advice from the Client shall not be used or relied upon by any other third party. The Client can pass on the Report to other parties as the Client decides in his absolute right. 7.AlterationsNo change to these Terms and Conditions shall b

38、e effective unless made in writing and signed by a Director of BDM.8.Service delivery and timeframesAlthough BDM does not generally provide the Services under a time schedule, nevertheless if the Client requests an indication of time that may be involved, BDM will use all reasonable endeavours to ma

39、ke the Services available in accordance with an estimated time schedule, but it is understood that statements provided by BDM to the Client concerning the total work time are given only as an estimate, in good faith for planning or other purposes only, so will not be contractually binding and accord

40、ingly BDM accepts no responsibility or liability, financial or otherwise, in the event of being unable to comply with the said estimated time schedule. Terms & conditions of business9.Liability9.1 BDM shall perform the Services with reasonable skill and care. 9.2 Other than in relation to death or p

41、ersonal injury resulting from the negligence of BDM, the liability of BDM to the Client or to any third party or parties shall be limited as follows:9.2.1Subject to subsection 9.2.2 below of this clause 9, in no circumstances shall BDM be liable to the Client or to any third party or parties in cont

42、ract, tort (including negligence or breach of statutory duty) or otherwise howsoever and whatever the cause thereof for: (i) any increased costs or expenses; (ii) any loss of use, profit, business, contracts, revenues, delay, or anticipated savings; or (iii) any special indirect or consequential los

43、s or damage of any nature whatsoever arising directly or indirectly out of the provision by BDM of the Services, or of any error or defect therein, or of the performance, non-performance or delayed performance by BDM of the Services and BDM gives no warranty in respect thereof. (By way of illustrati

44、on, but not as an exhaustive list, examples of consequential or indirect loss would be loss of future business, loss of reputation or goodwill, loss of anticipated savings and damages, costs or expenses payable by the Client or any other third parties).9.2.2Nothing in this clause 9 is deemed to excl

45、ude or restrict BDMs liability to you for death or personal injury resulting from BDMs negligence.9.2.3Subject to clause b) above of this clause 9, BDMs entire liability (for any one claim for direct loss or for all claims for direct loss arising from any one act or default, whether arising from BDM

46、s negligence or otherwise) in contract, tort (including negligence or breach of statutory duty) or otherwise arising by reason of or in connection with this Service shall be limited to the total invoice amount for the relevant Report.9.3Time of provision of any Services is not of the essence. Any da

47、te mentioned is given only as a guide and BDM is not liable for any loss whatsoever arising from any delay or failure of BDM or its associates to perform the Services10.BDMs Fees10.1Where a Client instructs BDM in writing to undertake the Services (or any other service) the Client is responsible for

48、 BDMs fees whether or not the case proceeds to its conclusion.10.2It is of the essence of this Agreement that payment is due immediately in relation to the Services provided. The service is deemed to be provided when the report is complete and ready for dispatch to the Client.10.3In the interest of

49、expediency and ease of administration BDM will accept the payment of fees by the Individual Client or Individual Clients. The payment of BDMs fees in this way does not in any way affect these Terms and Conditions and the agreement for services remains between BDM and the Client.10.4Any revisions to

50、the Services will be charged at the current hourly rate and expenses at cost, subject to the Clients written approval.10.5Where work is terminated before completion, the matter will be regulated by clause 13 hereof, below.11.TaxesFees and expenses are exclusive of any Value Added Tax and/or other ta

51、x and the Client will be liable for all such taxes to the extent required by law.12.Force MajeureWithout prejudice to anything stated elsewhere in this document, it is understood that BDM shall not be liable to the Client or to any third party for any failure or delay in the performance of BDMs obli

52、gations where such delay or failure is caused by circumstances beyond BDMs control which would include (but not be limited to) act of God, war, riot, sabotage, explosion, abnormal weather conditions, fire, flood, strikes, lockouts, or other industrial action or dispute, government actions or regulat

53、ions, default of third parties, or illness within BDM. 13.Cancellations13.1If a Report request is cancelled, a reduced fee being either: (a) a pro rata fee relating to Services already performed at the time of cancellation, or (b) 50% of the full fee due, whichever is the greater.13.2 In addition to

54、 what is stated above in clause 13.1 hereof, the Client shall pay in full any third party costs incurred.13.3There shall be no offset against any other Services that BDM may provide for the same Client or professional firm.14.Alterations14.1The Client may request an alteration or modification to the

55、 Report request at any time.15.Communications via e-mail and the Internet15.1BDM makes full use of electronic communication where Clients wish.15.2If the Client asks BDM to communicate with them electronically via the Internet, BDM asks the Client to note that the Internet is neither private nor sec

56、ure and that BDM cannot guarantee correct message routing or promptness of delivery.15.3Where security and reliability are important, BDM recommends that the Client does not use the Internet for sending to BDM or receiving from BDM messages or documents.15.4If the Client chooses to communicate with BDM via the Internet, B