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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


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Information needed for pension sharing

  • maggie
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05 Dec 07 #8461 by maggie
Topic started by maggie
Apart from the CETV and charges for the admin.of sharing,
the Pensions on Divorce etc. (Provision of Information) Regulations 2000 states members and ex-spouses and the court are entitled to know:
"(d) whether the person responsible for the pension arrangement offers membership to a person entitled to a pension credit, and if so, the types of benefits available to pension credit members under that arrangement;
(e) whether the person responsible for the pension arrangements intends to discharge his liability for a pension credit other than by offering membership to a person entitled to a pension credit;"
Why would you need to know that before you negotiate your share?
Does being offered membership of the scheme make your share of the pension more valuable?
Is the pension scheme being asked to state before you negotiate your share of the pension, ie at FDR , whether you personally as ex-spouse will be offered membership or will have to transfer out?

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05 Dec 07 #8464 by maggie
Reply from maggie
Form P "lists all the information that can and should be
obtained from the pension companies."
lawsociety.org.uk/documents/downloads/dynamic/flppart4.pdf
"4.5.4 If the case is one where a pension sharing order or attachment order might be appropriate, it is necessary to obtain significant further information from the pension company. A standard Pension Inquiry Form (known as Form P) has been introduced by the Family Proceedings (Amendment) (No. 5) Rules 2005.
This should be used as a standard form to be sent to the pension provider. It lists all the information that can and should be obtained from the pension companies."
So if you've got a completed Form P at FDR you have all the information that can and should be obtained from the pension companies - is that enough to get a fair outcome on pension sharing?

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05 Dec 07 #8467 by TMax
Reply from TMax
I finaly have my papers here but it has to be reassed as from court date but figures they say it may be is :- if pension is worth 200,000 court order shows X share to be 50,000 then the proportion of pension share rights would be 50,000 / 200,000 X 100% = 25% as of court date. That is it any further rises after that date cannot be included.and only gets paid to the person who belongs to the pension.

figures like this have already been posted.plus of course the cost of the applicant to set it up :-(Mmmm expensive

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05 Dec 07 #8472 by maggie
Reply from maggie
Morning SKC
Do you understand how your ex's share of the pension was decided?
I'm still trying to and I've already shared the pension.
It sounds as though in your case the pension was treated as capital - to be divided up to give some sort of 50/50 result from dividing all capital assets?
Your ex "needed" £50k from the pension CETV to make it fair shares for each from all the marital assets?
Do you know what pension income you will get from the shared pension?
Do you know what income your ex will get from their share and when they can take it into payment?
Neither I nor my ex knew how it would affect our pension payments.
What I'm trying to find out is whether the Regulations entitle us to know that type of information - not just the CETV - and what difference it might make to negotiating a pension share.
Also I'd love to know if your pension scheme completed Form P.

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05 Dec 07 #8477 by maggie
Reply from maggie
I should have asked whether the pension in your case is defined benefit- linked to salary- or money purchase.
If it's defined benefit how will the scheme calculate what your pension should be when you decide to take it into payment?

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