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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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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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Pension actuarist

  • Irungu
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06 Jul 21 #517195 by Irungu
Topic started by Irungu
Hello,
I am in the process of choosing a pensions expert from the 3 recommended ones by my stbx solicitor. Apart from cost what should I be looking out for? Also, is the pension calculate from date of separation or the Decree Absolute that is awaited after financial remedy proceedings?

  • hadenoughnow
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07 Jul 21 #517203 by hadenoughnow
Reply from hadenoughnow
You need to look at cost and how long it will take for a report to be provided.
It will be quicker if the actuary gets up to date pension information, scheme booklets etc and doesn't have to chase around.
There should be a joint letter of instruction agreed by the parties. This will set out what the actuary has been asked to do. Usually it would be to calculate how pensions should be shared to allow for equality of incomes in retirement. (There may be calculations for more than one retirement age ie 55,60,65). There may be a set of calculations that exclude pensions accrued outside the marriage/relationship.
The calculations are based on the latest valuation of tge pension.
The actual pension share doesn't happen until the scheme receives the paperwork after you have a court order.

Hadenoughnow

  • Irungu
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07 Jul 21 #517205 by Irungu
Reply from Irungu
Many thanks hadenoughnow for your reply . Is the state pension usually included?Both our pensions were accrued during our marriage.

Kind Regards,
Phylis

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