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What are we each entitled to in our divorce settlement?

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Me no mathmatician but............................

  • Louise11
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02 Sep 07 #2759 by Louise11
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Can someone, anyone, please explain for me the following........


Full pension = 30 years
Married for and divorced after = 20 years

According to a pension actuary 79.2% of the full pension was earned during those 20 years?

By my reckoning and this is where I am desperate for clarification..............

Pension earned to date is 2/3 rds (20 years) has 1/3rd left to do to earn full pension!

2/3rds = 66.6% of pension earned today surely?

Where does the 79.2% come from?

Any advice apreciated.

Kind ones
Louise

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02 Sep 07 #2760 by Monster
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Hi Louise, It all depends on what type of pension you are talking about. My pension goes up at different rates over thirty years. now i have not got the exact details but from the fifteen year point... hold on give me 10 mins to read some info!!..

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02 Sep 07 #2761 by Monster
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Right, my pension is worked out as follows, my service is 30 years for the full pension and its worked out in 60ths the maximum you can accrue over that period is 40/60th’s, thus I will be paid roughly 2X3rds of my finishing wage once I leave. Now to get 40/60th’s in my job, I earn 1/60th per year for the first 20 years then I earn 2/60th’s for each of my final ten years.

Now your pension scheme may be different and accrue more pension points earlier in your career but it could be a large mistake..... anyway i hope it goes someway to explaining the rather odd figures you have been given. Hope it helps :)

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02 Sep 07 #2762 by Louise11
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Hi there Monster
Yep yep I understand where you are coming from, the pension in question here goes something like this...........

1/60th for every year worked for first 20 years! Then for last ten years 2/60ths... therefore giving a total 40/60ths earned for total full final pension.

So by that reckoning?????? Hes earned 20/60ths in the 20 year marriage, his other 20/60ths will be earned in last ten years
so.......................my reckoning? Hes earned 50% (half his pension whilst married to his ex)

Hes earned the other 50% half or will have whilst married to me! But i do understand this point in that they will argue if it wasnt for her contributions to the first 20 years he wouldnt be getting this part! LOL god confusing or what!
What makes me mad is........whatever or how long hes been paying it as far as i am concerned and this is for all people who have pensions where both spouses have worked then its your uddy pension you are the one who works for it! According to her barrister in court he said of my husband................"It IS A FACT THAT HUSBANDS PENSION HAS INCREASED GREATLY IN RECENT YEARS NOT OWING TO ANY SPECIAL EFFORTS BY HIM"!!!! So whose efforts were they then? His ex wifes? Was she working 12 hour shifts, sometimes 7 days on the trot? THis woman left him with the kids and ran off with a fella some 5 years ago!!!!!! OMG im off on one again!
Sorry. :)

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02 Sep 07 #2763 by Monster
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I hope my X2B's sol does not get your barrister. Lucky for me though she has a pension that will hopefully go someway to reducing the burden on mine. :unsure:

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02 Sep 07 #2764 by Louise11
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O she has one of those too but for 3 years has refused to divulge it! Shes been ordered to 3 times in 3 years but o no still refuses, till her barrister said at FH well yes she does have one your honour but its not worth much and isnt really worth bringing to the attention of the court!!!! lol............. What do you think the Judge said???????? hahahahha "I will decide if its worth anything! It still has to be disclosed! Even if its worth 2k! So FH adjourned whilst she gets the CETV value of her pension! It was supposed to have been filed June 15th, still, as of today its not been filed and our new FH is Oct 8th and 9th. they just wrote to us and said its worth 9k, no proof though!
Hey ho such is life.;)

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02 Sep 07 #2765 by Monster
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Well i have my CETV and she is in the process of getting hers so all should be ok in pension land!!:blink:however i think i will be getting a good kicking from her solicitor on the financial front because the first letter i got from her included a form E for my consideration of filling it in.. :laugh::laugh::laugh:my x2b was most dissapointed when i said no thanks.. not just yet..

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