Does anyone have experience of getting an actuarial report on their ex's final salary public sector pension. In this case my ex's pension is a teachers pension with a CETV of £65k. The express valuation is valuing the pension at £190k +!!
My ex will not accept this and as such i will need to get a court approved actuarial report if I want to progress this matter further.
Has anyone been in a similar position? Did the actuarial report considerablely exceed the CETV provided? For those who used was your express valuation in the same ball park as your actuarial report?
If there is a disagreement over asset division the court decide what should happen - i doubt any court would order a formal actuary report with pensions at your age with CETV`s that are actually rather low.
Your both rather young meaning the pensions are of little use for the next 20 odd years, pensions don`t have a liquidation value until in payment, even then the tax man will take a huge chunk, as much as 50%, so they are not a liquid asset like a house or car ect.
Don`t get too caught up in what they are really worth, the numbers you suggest sound odd, as do the calculations.
Pensions with a CETV of less than 100k with people below 45 tend to be worth not huge sum.
A pension that pays £1800 per year is worthless in the calculation of asset division as of now, hers will pay 6k per year in donkey years time - its small beans, focus on the actual assets you have, the pensions are tiny in real terms.
At the FDR the judge was dismissive of pensions and the small value of my business (£50K). She just wanted to focus on the housing needs of both parties for the sake of the children.
I had been saying to my ex for 2.5 years we should square the pension and business away and just focus on dividing the equity in the house...….
An actuarial valuation of the pensions was carried out but it was clear from the start that the actuary selected by my ex was not going to stray too far from the scheme valuations. If you do use an actuary try and use Peter at BDM. you can get an idea of the schemes values using there express valuations.
Needless to say we didn't settle at FDR and we're now off to a final hearing! Happy to have a chat if it helps?
Thanks. So I guess it depends on the judge and their decision on whether it's included or not? bit of a lottery.
How is the pension actuary selected? If I left the choice to stbx, the selection is very likely to be one who will intentionally undervalue it.
An idea how close to the full actuarial report would the express report be (in terms of value reported)?