Additional state pension

I have a valuation for my pension, but have also been asked to provide an Additional State Pension Valuation, which I now have the details.

I am 7 years older than my ex and have worked since I was 19. He has not worked consistently and not always paid into a pension fund.

Can I take into account that I paid all this for 12 years before even meeting ex?

Seems unfair that I have always saved for retirement, while he preferred to spend all the time and never bothered about savings.

How is the whole pension thing worked out in settlement???

Thank you

Don''t know whether you would be able to discount all of the 12years but I think you would definitely have a case for a least 7 years seeing as you are older than him.

Both my partner and his ex solicitors seemed to suggest that when it come to pensions only the years in the marriage counts but that might have just be local to us.

Hi,

Can you give a bit more background.

For example, how long were you married?

Any other pensions involved?

Are the pensions being looked at in isolation of the other marital assets and income?

Will be able to give you a bit guidance with this information.

Phil

Thanks Phil.

Together 18 years,(co habit 13 years married 5 years)

I have had my pension since I started work at 17, now 49. Paid pension for 12 years before meeting ex.

Ex had different jobs and only 2 had a pension scheme, both pension CETV small.

As for assets there is only the house with equity of about £25,000.

If you need any more info I can pm you.

Many thanks

Hi,

In my opinion the starting point is usually 50:50 and then you look for reasons why it would not be so.

Things like short marriages, inheritances, pre-aquired assets and contribution might have a bearing on it not being 50:50.

In England and Wales there is no set rule that only the accrual during marriage counts, which is what happens in Scotland.

Given the length of the cohabitation/marriage it might be difficult to argue for a reduction but that doesn''t stop you from asking.

Would your ex be amiable to this?

Has he stated what he wants?

With little equity to work with it would be difficult to offset your pension (assuming it is worth more).

Phil

I thought that also the age of each party is considered so as your 7 years older, dont think the pension should be split 50/50.

I would agree that age is relevant but it depends on what type of calculation is being done.

In my opinion if it is a capital equalisation then age is irrelevant it is the values of the pensions that dictate.

If it is a income equalisation then age is relevant. Usually it costs more money to provide a pension to a younger person than it does an older person though.

Phil