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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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divorce/pension

  • tigger64
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29 Mar 12 #320698 by tigger64
Topic started by tigger64
Hi,

I am currently in theprocess of divorcing my cheating police officer husband, the only asset we have is his pension, he has been in the police for 20yrs, we have been married for almost 10 but separated for 2, we have a daughter 11. He has agreed to give me his lump sum CETV value but this wont be until he retires in 5 years, 25% of the pension total value, this is a final settlement with me having no further claim on his pension, he also has a 13yr frozen pension (before we were together) and a top up of 15yrs. The reason for the lump sum is that there are no other assets and I am 7 yrs younger than him plus I need to look after our daughter, can anyone tell me if this is a fair split?

  • WYSPECIAL
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29 Mar 12 #320715 by WYSPECIAL
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So you will get 25% of the value of his Police pension and nothing else? And you''ll have to wait 5 years for that?

Sounds like a bad deal to me!

How do you know he will retire in 5 years? What age and rank is he because it would be much better if he did at least 30 years. If he decided to do this would you be happy to wait another 5 years for your pay out?

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29 Mar 12 #320717 by tigger64
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he is 55, he could retire in november but he has just fathered a baby with his girlfriend, he is a pc and will have done his max in 5yrs, my solicitor has said I will get the value as it is now not in 5 years as they can,t take an estimate

  • remealot
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02 Apr 12 #321199 by remealot
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I absolutely agree. Now is good. I was in his situation, and my wife wanted her pension sorted. We had 2 x reports ( cant remember what they are called , not CETV, the expensive one) carried out on my pension, they both said the same thing . she would receive 100% of the current CETV, sounds harsh, i had no children. My situation left me in a situation wherby I had to stay in the miltary until I received my full pension. Looking back I wish i had listened to my finacial advice earlier and settled instead of wasting so much emotion on what i thought she should have...
I gave up 81K but I still have a pension now and I agree that the split should be fair. It didnt seem fair at the time and I thought it was biased to make me stay in my military job for 4 years so i could accrue an actual pension for myself but I beleive I owed that to my wife and myslef to be sensible.
Please dont wait on him doing something that he may not do. secure your future now. You have thos rights.

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02 Apr 12 #321208 by tigger64
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I Can''t take anything now, it is all locked in until he retires, as far as I am aware anyway, maybe someone in the know could let me know if that is the case? He said Police pensions do not allow you to take the lump sum before retirement and he wants or has to stay on for a min. 5 years, if he takes his pension he can''t stay on.

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02 Apr 12 #321295 by WYSPECIAL
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He might not be able to take his pension now but it can be split now.

Your share is then nothing to do with him anymore and not vunerable to any changes of mind or circumstances he may have.

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