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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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The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

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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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Errors in Pension Share Implementation

  • ian conlon actuary
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08 Oct 12 #359784 by ian conlon actuary
Topic started by ian conlon actuary

  • maggie
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08 Oct 12 #359859 by maggie
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"...this case made me wonder, just how many pension sharing Orders have been incorrectly implemented?"
I asked Aegon SE for a copy of the working out of our CETV - stony silence.
Even if we''d need an actuary to explain it - at least we''d have had some evidence and accountability - some incentive for the person doing the calculation to concentrate?

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08 Oct 12 #359862 by penny10p
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That''s scary!

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08 Oct 12 #359945 by ian conlon actuary
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Magie, there are certainly questions you can ask which may prompt a second review by a more experienced member of staff, for instance -
How many years experience does the person have who carried out the calculations?
Can you confirm that the calculations were reviewed and checked by a second, more experienced person?

Ian

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09 Oct 12 #359974 by maggie
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I''ve really no idea whether I got a CETV offer from a competent person.
I was in dispute over being kicked out.
I asked to see the CETV calculation because it changed each time they wrote to me - at that stage I thought CETVs were guaranteed as for an ordinary pension transfer
- but no calculations were forthcoming.Each time just a different to me apparently random number.
I think if pushed they would have said I wasn''t a member even though I held a pension credit because they''d decided I had to transfer out.
It''s difficult to see whether holding a pension credit in a scheme which will not allow you to join gives you any right to haggle over the CETV you''re offered.

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09 Oct 12 #359979 by dukey
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Something similar happened on wiki about a year ago, a guy had a CE for his form E, pension share was agreed i think around 70-30 in husbands favor, once shared though the numbers were wildly different, by about 40% from memory, all the trustee would say is that the sharing calculations were accurate, no comment on the CE provided just months earlier.

It caused holy havoc which in the end led to the CO being set aside, i don`t know who it ended, as many do the guy left the site without ever saying.

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09 Oct 12 #360001 by maggie
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I reckon the pension sharing wrangles that go to the pensions ombudsman are the tip of the proverbial - I was stopped at his gate by a senior investigative rottweiler who more or less said I had no rights because I was not a member of the pension scheme.He questioned my use of terms that are in the legislation - so really nowhere to turn if that mind is shut against you.
Looks as though only 24 complaints about pension sharing have got as far as the ombudsman decision stage since 2000/start of pension sharing?
www.pensions-ombudsman.org.uk/Decisions/Search/Index.aspx

The latest one Ref: 81482/2 seems to demonstrate the culture clash between divorce financial settlements and the mighty pension trustee.
Para 43 demonstrates how little value the pensions ombudsman puts on the rights of someone holding a pension credit?

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