In T v T [2021] EWFC B67, HHJ Hess dismissed the husband’s application in financial remedy proceedings to vary downwards a pension sharing order. The application followed a significant increase in cash equivalents (CEs) that occurred after a temporary reduction in CEs because the husband’s defined benefit pension scheme was underfunded. HHJ Hess warned practitioners not to tick the internal or external transfer box in paragraph F of Form P1, to avoid the risk of an external transfer being implemented at a time when reduced CEs are being paid out.