A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


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.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


Can this be right?

  • Caligula
  • Caligula's Avatar Posted by
  • User is blocked
  • User is blocked
More
02 May 12 #328030 by Caligula
Topic started by Caligula
Okay in brief -

I have a public services pension. My wife has her own public services pension but within the 12 year marriage she took a 5 year career break for child care and then part time return to work.

My wife is claiming 50% of my pension for the marriage period and offering 50% of hers.

I am 7 years older than her and my salary and hence pension is higher being a manager

BUT: Do I not have a case to say that I will keep my pension but pay a contribution or the full amount towards the loss of her lower pension during the 5 year break and part time work.


Many thanks for any help.

Paul

  • MrsMathsisfun
  • MrsMathsisfun's Avatar
  • Platinum Member
  • Platinum Member
More
02 May 12 #328034 by MrsMathsisfun
Reply from MrsMathsisfun
Hi and welcome to wiki.

If the pensions are the same as it appear yours are and you are the same age the usual solution is that you add both pensions and divide by 2, so that each of you get the same size pension pot.

Think this is what your stbx is kind of suggesting.

If you are different ages then it might be more appropriate to get an actuary involved to work out the percentage.

  • Caligula
  • Caligula's Avatar Posted by
  • User is blocked
  • User is blocked
More
02 May 12 #328035 by Caligula
Reply from Caligula
Thank you. I added a clarification that my Slalry and pension is significantly higher being a manager and that I am 7 years older.

Many thanks

  • maisymoos
  • maisymoos's Avatar
  • Platinum Member
  • Platinum Member
More
02 May 12 #328036 by maisymoos
Reply from maisymoos
Mathsisfun is right. I had a very small pension compared to my ex and the values were added together so we each received 50% of the total.

  • maisymoos
  • maisymoos's Avatar
  • Platinum Member
  • Platinum Member
More
02 May 12 #328039 by maisymoos
Reply from maisymoos
Caligula wrote:

Thank you. I added a clarification that my Slalry and pension is significantly higher being a manager and that I am 7 years older.

Many thanks


What are your respective ages?

A judge will be looking to achieve equality, the fact that you are on a higher salary also means you have a better opportunity to rebuild your pension.

  • sexysadie
  • sexysadie's Avatar
  • Platinum Member
  • Platinum Member
More
02 May 12 #328047 by sexysadie
Reply from sexysadie
Your ex will be able to argue in court that she was expecting to rely on your pension as she was the one who took a career break and damaged her pension expectations in the process.

What will happen is that, as has already been said, the two pension CETVs or acturial valuations will be added together and you will be expected to come out equal. This will involve transferring some of your pension to her - you don''t want to share both pensions as there is a charge for each pension share and in some schemes this can be quite high.

Given that you are older and so nearer retirement, it may be that you could get the actuary to account for this in the calculations, but it will only make a significant difference if you are over 50 or so, I would think.

Given that you both have public sector pensions, you would need to balance the cost of an acturial report (about £1000), which would give you a more accurate share calculation, against the difference that would make.

Best wishes,
Sadie

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11