I have finally received my actuary report ahead of FDR 08/12/20
With co-habitation there is a long marriage totaling 30 years- separated 2013
I have only ever requested equality - house/savings were divided 50/50 in 2014 -divided before we involved solicitors- I started with a solicitor but due to costs am self representing
I currently earn £19,000 he earns £58,000. I owe £120,000 intrest only mortgage- he is mortgage free and has recently sold his house and lives with his partner.
To equalize pensions - i asked for £153,000 this was rejected
I then asked for £144,000 to put an end to a long drawn out debate on pensions this was again rejected and it followed with a letter In November 2019
His solicitor wrote " Our position on behalf of our client is all that is shareable accrued during the period of the relationship - but if you wish to argue for totality then that is catered for in the actuary request"
An actuary report was requested at a cost of £3,700 that had to be split 50/50 - they requested 5 age scenarios/co-habitation/marriage along with totality to be explored. The judge at the FDA did state it seemed excessive but still allowed it -I said to use the actuary firm of their choice which they did / I emailed time after time with his solicitor that it was an expensive over the top request for which should be a straight forward report. The actuary firm stated - they have only done 2 ages/ (age 60 for me and 65 for him as well as totality of pensions/ co/habitation and marriage period) as the other 3 were irrelevant.....
Well what a surprise it states
Up to date for myself to receive from him
Totality up to now - £188,149 aged 60 £186,749
Co- habitation up to now -£196,958 - aged 60 £194,589
Marriage up to now - £158,478 age 60 £156,499
So in a way I am glad they did not accept my previous offers - but how do I take this to the FDR ? Go for the highest totality amount or go for highest co habitation - as per his solicitors request in Nov 2019 - for which I am now sure they are going to back track from -
I have contacted a financial advisor as to best place the money ( yet to hear back)
I am self representing and he will be with a solicitor and a barrister in the zoom meeting
As yet I have not heard anything from his solicitor since receiving the actuary report last week
Last edit: 4 days 8 hours ago by fresh start. Reason: Wrong amount
Does the report state whether you can share within his scheme? What are the percentages? Sharing within the scheme may be the best bet.
Are you looking to exchange pension entitlement for s capital sum? Have offset calculations been done? In terms of the argument regarding what should be shared, take a look at the Pensions Advory Group report.
When cohabitation runs seamlessly into marriage the whole period is counted. Depending on when Decree Nisi was pronounced it may be reasonable to exclude accrual post separation.
I would be inclined to go for the highest figure and see what opinion the judge gives at FDR.
Thanks hadenoughnow for responding - no its has to be removed and both placed in my own pension - I will have to start a new investment as my current NHS cannot be added to.
100% of one of his pensions regardless of wether its all co-habitation or just marriage or up to totality - (£130,000) will be passed to myself plus-
if the judge agrees to just the co- habitation period till 2013 it will be 22.5% of another pension( £66,000)
if they state marriage period to separation it is 9.5% (£28,029) and if its totality it will be 19% (£57,700)
Yes cohabitation was 6 years then married 24 - Decree Nisi was 2018
Pension entitlement for a capital sum - do you mean cash settlement?
I asked him ages ago for a lower cash sum as he can access 2 of his pensions now but he declined
But before we go to court in 2 weeks we have to be seen to be negotiating don't we?
I know I have previously made 3 offers (all lower than what I will be awarded as a minimum) they have all been declined.
Do I just say to solicitor I have tried negotiating and I am going for highest figure - which as his solicitor said in an email - before the actuary report was published - “Our position on behalf of our client is all that is shareable accrued during the period of the relationship" - Which will make this the highest amount -£196.958 .....can this stand up in court? Or are they allowed to retract what they said? Can I put this to the judge on the day? By drawing their attention to the bundle 2 communication messages.
Where cohabitation runs seamlessly into marriage the whole period is counted. In any case thr relatively recent pensions advisory group report has been clear that equalising incomes in retirement is the approach that should be used. Excluding pensions accrued outside a long marriage is now very unlikely to be acceptable.
Furthermore there can be a needs based unequal split of equity and separately equality of pension income.
I would make sure you have written to the other side withdrawing any previous offers made without the benefit of the actuary's report. Then make your FDR offer based on the highest figure. If the judge directs that the middle figure is appropriate you can be negotiated down to that. I wouldn't agree to less than the top figure without a judge advising that it was appropriate.
FDR is quite soon. Your order from FDA will say when offers should be exchanged. You never know, they may just capitulate ahead of the hearing.