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actuarial valuation for FH

  • Irungu
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26 Sep 21 #517784 by Irungu
Topic started by Irungu
Hello,

We are now 7 weeks to final hearing and haven't agreed on letter of instruction he pensions.Our final hearing is scheduled for 3 days as STBx has made matters so complicated.What is likely to happen if we do not have the actuarial valuations as agreed by the court?We have CETV values that STBx is declining.Its been v stressful.

Kind Regards,
Phylis

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27 Sep 21 #517789 by hadenoughnow
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What is the problem with the letter of instruction? They normally follow a pretty standard format.
Have a look at the order and see what it says about the letter and any deadline for agreeing it. If that has been breached you need to make an application to court. If there is disagreement about the letter then you can ask the judge to approve it.

I cannot see how it is possible to get an actuary's report in time for the hearing. You will either have to reach an agreement on the pensions (risky without an actuary's input, especially if a judge has determined that one is needed) or consider asking for an adjournment. Otherwise you may ask the judge to order an equal split to be determined by the actuary after the hearing. If there is any question of offsetting pension against equity, this could be tricky.

On balance I think you need a D11 application and some directions from a judge so as not to waste court time.

Hadenoughnow

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27 Sep 21 #517791 by Irungu
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The letter of instruction did not cover the years necessary age 60,62 and 65.My STBx has been an absolute nightmare as I had to apply for D11 pre-FDR too.I really do not mind using the CETV but concerned that as the judge at FDR asked for the actuarial valuation,we may have to get it adjourned and I have already reserved representation with a direct access barrister?I am confused!

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28 Sep 21 #517799 by hadenoughnow
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Were these ages specified in the order from the court?

Most actuary reports these days seem only to look at the position at normal retirement age.

If you and your ex reach agreement on the pensions there would be no need for the report. Whether that is sensible or not is a hard one to call. You may be able to get some insight if you know what the various pensions will pay on retirement. An actuary will be able to take into account disparities in ages etc.

If the hearing is looking iffy you need to let the DA barrister know ASAP and see what their arrangements for cancellation/postponement are.

Hadenoughnow

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28 Sep 21 #517800 by Irungu
Reply from Irungu
Many thanks for all your help.

Kind Regards
Phylis

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