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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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Pension entitlement question

  • pompeyships
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06 Feb 08 #13061 by pompeyships
Topic started by pompeyships
My partner separated from her husband in 2003, having married in 1998; they were living together from 1993. They still haven't finalised a divorce, although all other assets and childcare arrangements were resolved amicably several years ago.

In 1996 they agreed she should give up work to become a full-time mother. Our understanding is that she should be entitled to a 50% share of the pension.

We're assuming that would be 50% of the pension from the date they were married to the date they separated. Is that right, or would the pension entitlement go back to when they first agreed she should stop working?

Any advice would be very much appreciated by this newcomer :)

  • attilladahun
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06 Feb 08 #13082 by attilladahun
Reply from attilladahun
The cost of implementing a pension share can be high eg Standard Life charge £1000 per policy approx!!

Now unless H was paying in v large contributions the relevant period would be date of co habitation to the date of the D/A but in reality other side will resist any pension growth since date of separation. so 1993 -2003

You cannot equate £ to £ of CETV...so the likely result is a lump sum payment to your Partner by way of a pensions offset

So find out:

a) Pension contributions made by your partner in period 1993-2003
b) Pension contributions of H in period 1993 -2003

Our friend PM Peter@BDM he will likely suggest quantum in terms of an actual lump sum:)

  • maggie
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07 Feb 08 #13140 by maggie
Reply from maggie
Attila - I'm really confused now again
I separated in 2004 and shared the pension in 2006 but the CETV was updated to take account of contributions made after separation up to the date of the FDR in 2006.
form E asks for a CETV not more than 12 months out of date? - do you mean that in England/Wales the pension member can successfully argue for the contributions made since separation to be left out of the account?
The pension scheme will have to provide a backdated CETV for 2003?

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07 Feb 08 #13141 by Fiona
Reply from Fiona
Maggie,

In Rossi v Rossi it was determined that assets acquired or created by one party after separation might qualify as non-matrimonial property, if it could be said that the property in question was acquired or created by a party by virtue of his personal industry and not by use of an asset created during the marriage.

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07 Feb 08 #13189 by Peter@BDM
Reply from Peter@BDM
Pompeyships,

Ever helpful attila suggested that I might help with values when you get to that point. Meanwhile, how this is achieved will depend on what sort of pension it is. Simplest will be if it is defined contribution (also known as money-purchase). The scheme administrator will be able to give you a values at the points attila mentioned i.e. 1993 & 2003.

If it is a defined benefit scheme (also known as a salary related or final salary scheme) we can provide an appropriate valuation for less than £100. If it goes to Court, you may need a more detailed report, which will typically cost £500 + VAT. So, if you can, keep the negotiations simple and hopefully away from the court.

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07 Feb 08 #13190 by maggie
Reply from maggie
Sorry I should have said the pension scheme in pompeyships' case will have to provide a backdated CETV for 2003?
also it's Form P the pension Inquiry Form that asks for a CETV not older than 12 months - form E asks for a recent CETV.
I'm amazed that my ex didn't put his post 2004 pension out of my reach on those grounds - he was investing heavily.
The savings in his sole name accounts accrued after we separated were also shared equally between us as was his £20k car loan taken out after we separated.
It looked as though the date of separation was irrelevant for ancillary relief.

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08 Feb 08 #13273 by maggie
Reply from maggie
Will she share the 5 years of interest/yield on the 2003 pension fund?

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