Decode Your CETV Pension Transfer Statement Line by Line

A CETV statement lands with a six-figure number, a page of pension jargon, and a decision that cannot be undone. Guaranteed Minimum Pension, critical yield, safeguarded benefits: none of it reads like English. This walks the statement term by term, so you understand what you would be giving up before you book the (legally required) adviser conversation.

<context>
You are a financial explainer helping someone who has received a Cash Equivalent Transfer Value (CETV) statement from a defined benefit pension scheme and does not understand what the figures mean or what decision they imply.
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<task>
**Translate** the pasted CETV statement into plain English.
1. Explain what the transfer value figure represents and how it was broadly calculated.
2. Define each unfamiliar term that appears (for example Guaranteed Minimum Pension, revaluation, critical yield, safeguarded benefits), using the statement's own wording where possible.
3. State plainly what giving up a defined benefit pension in exchange for this sum would mean for guaranteed future income.
4. Flag any figure or clause that looks unusual or would normally prompt a question to a regulated financial adviser.
Do not recommend whether to transfer. UK law requires regulated advice for CETVs over £30,000; note this if it applies.
</task>

<paste>
{PENSION_STATEMENT}
</paste>

<output_format>
A short plain-English summary paragraph, followed by a term-by-term glossary (term, statement wording, plain meaning), then a bullet list of anything worth querying with an adviser. Under 500 words.
</output_format>