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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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pension fulltime fireman

  • crystal
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08 Mar 08 #16177 by crystal
Topic started by crystal
hi
my husband is a full time firefighter who has been full time for 18 yrs we have been married for 16 yrs what persentage am i likely to get from his pension

  • lindy lou
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08 Mar 08 #16180 by lindy lou
Reply from lindy lou
Hi Julie-
I'm in the same boat- will let you know after the FH on May 12th.However the DJ at the FDR ordered that an actuary report be obtained- half to be funded by him and the other half by my legal aid certificate- she said thet the CTEVwas not a fair assessment as he can retire at 55 or 60- so this is being done at the moment. I will say that his pension provider has been very unhelpful and is dragging its heels and takes a long time to response to the solicitors letters.
Hope this helps.
Linda

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08 Mar 08 #16192 by crystal
Reply from crystal
hi linda
thank you for replying i should have to keep my fingers crossed that i get a better response . my divorse went to the court this week

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09 Mar 08 #16256 by Nigel@BDM
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We do actuarial reports on these and its not unusually to find our values three times bigger than the CETV: so definitely worth getting a report on.

If the judge won't agree to an actuarial report then we can do one without involving the other side or the pension provider for only £25. That gets the message over pretty clearly.

Another word of advice, be careful when considering any pension sharing option. Your share would not come into payment until 60 or 65, not when his does.

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09 Mar 08 #16273 by crystal
Reply from crystal
hi

is the value of his pension based on todays figures or when ,my husband retires
and have you any idea what sort of money we are talking about as i want to trade it off for the house

Julie

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09 Mar 08 #16279 by Nigel@BDM
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The value, either from a CETV or from an actuarial report, will be the current value of the future pension. In essence we project the future pension income and then work out how much money would be need to be invested now to generate that income.

Although its the current value it is of course locked up in the pension scheme. You have to imagine that the value is cash that has just been invested in a pension plan. Its a real amount of cash, just put where you can't get at it yet.

As to value I'd need more to go on, but at a guess between £300,000 and £400,000.

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10 Mar 08 #16383 by crystal
Reply from crystal
hi Nigel

thank you for your help i hope you are right on the value

he pays 11.5 percent of his wages and i think the fire service match that he pays in £280 a month and earns over 30k a year i remember seeing his wage slip 16 yrs ago wnen we got married and he was paying in £175 pound then
he told me its worth 32k and due to the fact i pact up work for some years to look after the boys i will only get 30% as i was independent of him my solicitor did laugh at that
i was looking on a value of about 100,000 to 150,000 between us we have equity on the house of 120,000 so i was hoping to trade the pension in but if your value is right i might have some thinking to do
thanks
Julie

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