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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.

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

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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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SM and pensions

  • skywalker
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04 Mar 08 #15742 by skywalker
Topic started by skywalker
Hi, new 2 this but I have a question re SM and my pension, my xw got £300pm in SM for joint lives from EARNINGS there is no mention in the financial agreement in ref to pension, the current sm is paid via a ,DOE I am still employed and have the chance of crystalising my pension at final retirement, I was told by my barrister that she had "saved" my pension; my companies pension dpt states that the DOE is in ref to salary and they will not apply it to any future pension pay out, can my xw have a DOE applied to my monthly pension payment? and would she have to return to court to have it enforced? sorry if this is a bit long winded but I could use some advice.

  • DownButNotOut
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04 Mar 08 #15751 by DownButNotOut
Reply from DownButNotOut
I believe that the principle is as follows.

The capital in your pension is what your barrister 'saved'.

However, once you give up work and start living off your pension then it provides an income stream and could be liable for SM deductions.

However, one would assume that your monthly income in retirement from your pension will be lower than your wages.

So the proper recourse is for you to apply to the courts for a downward variation in SM.

(If your income from the pension is signfificantly lower than your wages then SM could be stopped).

  • skywalker
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04 Mar 08 #15767 by skywalker
Reply from skywalker
Thanks dbno still hoping she'll find some one new!! but could pension income be classified as "earnings"?

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