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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.

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Is it worth including pensions in my case

  • esox11
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23 Aug 12 #351416 by esox11
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I have been advised to forget the pensions?

My S2BX says we should which makes me suspicious...

They are valued very closely, hers being worth £10,000 more than mine at £ 170,000 plus she has £6000 in AVC''s to add.

We are aged her 46 and me 47.

She has increased her earning potential in recent years as she passed a degree.

I have no idea what to do? Will it make much differance??

  • MrsMathsisfun
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23 Aug 12 #351417 by MrsMathsisfun
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Are the pensions the same type. eg final salary or money purchase?

  • The Divorce IFA
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23 Aug 12 #351483 by The Divorce IFA
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Hi,

Yes it can make a difference.

Not all pensions are equal and not all cash equivalents (CE) are either.

For example, a £100,000 CE in a personal pension is not the same as £100,000 CE in a final salary scheme.

It is essential that you compare apples with apples.

In a lot of cases I see the temptation has been to lump all the pensions together and divide by two.

So both get the same amount of CE but the outcome in terms of income received is often very different.

Giving the close valuations of each pensions it may be that disregarding them is the right approach however, I would need a lot more information to be clear on this.

Phil

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23 Aug 12 #351489 by esox11
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I will have a check later as i have copies of both CETV''s at home.

Thanks
Esox

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28 Aug 12 #352333 by esox11
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Right...
My pension was final salary until 2009 and that was locked in and after that it became an avaerage salary scheme.

Hers... yet to find out! Nothing obvious on the CETV?

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28 Aug 12 #352412 by MrsMathsisfun
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So yours is a defined benefit scheme.

Can you say what type of job ex does? Eg NHS, teacher, Civil servant, if she is any of these then probably hers is alway a defined benefit scheme.

If the schemes are different then I would think they will have to be considered and the only fair way would be a actuary report. if they are the same type and similar value no point including them.

  • esox11
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28 Aug 12 #352425 by esox11
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S2bx works for a large multinational company.
Not a lot on the CETV passed to me other than 4 valuations for post and pre April 1997 protected and non protected rights. Not sure if that helps? All 4. Add up to the total.
Plus a note about in house avc''s held.

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