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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.


Armed forces pension

  • linsus
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10 Apr 12 #322883 by linsus
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Can anyone confirm for me that if a pension sharing order is reached for an Armed Forces Pension, that the gratuity is put into the same pot? Or is that a separate entity?

  • MrsMathsisfun
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10 Apr 12 #322913 by MrsMathsisfun
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My understanding is that on sharing the two parts become two separate pension and each pension will have its own terms and conditions .

  • ian conlon actuary
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10 Apr 12 #322936 by ian conlon actuary
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The AFPS like all other public sector schemes do not have any "fund" to support future payments. It is merely an obligation on the AFPS to pay future amounts at specified future dates. Once a share is implemented, then the pension credit benefits are totally separate from the scheme member''s benefits.
Ian

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11 Apr 12 #322993 by linsus
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So when I become eligible to claim that pension when I am 55, will I still receive my half of the lump sum payment?

  • hadenoughnow
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11 Apr 12 #322995 by hadenoughnow
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You will be able to take lump sum from your pension. Bear in mind that if you take the pension at 55 it will be less than you would get if you took it later.

Hadenoughnow

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11 Apr 12 #323000 by MrsMathsisfun
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What happens is the pension is split . Your ex will get a lump sum (usually 25percent) based on his share when he decides to retire and depending on the terms and conditions of the pension you will be able to get a lump sum when you choice to collect the pension

The earlier you retire the smaller the pension you will receive

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