Pension Valuation?

Whatnext, why do you think that the pension would be split on the basis of future gains? That doesn't seem fair to me either. My understanding of how it works is (using my situation as an example) that the pension will be split 50/50 based on the value at the time of divorce. In my case my stbx will have a few years still to serve if he choses to and the extra years pension pension acrued won't be touched by the pension share. In fact, anything that happens after the pension share is put in place won't affect my pension. It would be ridiculous if you felt you had to stay in the forces until you were 55 just to fund your ex wife surely!

Think of a pension sharing order as an order to the pension company to split the pension by the agreed %,so that there are now two pensions, a pension annex (document) is completed and sent to the provider at the time set out in the Consent Order.

The reason pensions are valued by actuaries to the point of payment is to help work out what can be done to equalise incomes in retirement after a long marriage.

Thanks again Dukey, I really do appreciate your help.

Penny, I'm not sure and I may have misunderstood this but I get the impression it works like this;
the pension is split to acheive equality of income at retirement. As I may still serve for another 5 years stbx will receive a greater share of the existing pension than I will, say 70/30 share.

It is worked so that after my remaining 5 years service I will have earned enough extra to bring my pension back up to the level she is given at the time of divorce thus acheiving equality of income. So if I leave prior to that I will actually have a smaller share of my pension than she will.

Well that's how I have understood it, I would be delighted to be proved wrong but my experience of this divorce thing so far leads me to expect the worst.

Thanks again for reading my post and replying.

What next

That's very interesting. My stbx has agreed (reluctantly)to give me 50% of his pension for the years we were married only. He has worked out that that means I should get about 40%. Equality of actual pension is far from his mind! He also has about 5 years left in the forces. And he thinks I am taking him to the cleaners!

Thank you so Dukey xx

But jeez! you need to get more

xx

When the boss is away Dukey does play

When the boss is around Dukey is bound

Dukey, any chance you can expand views on pension sharing and percentages.

Have been married 31 years - ex currently has LGSP which has been running for 8 years.
He is 58 and I am 5l - CETV value 51,000.
(He has other pensions but this is the best one, I think).

Am I correct in believing therefore if I were to have pension share then it would not necessarily be 50% - if so, what share would be appropriation.

Also, having looked at his policy he receives lump sum of £34,000 on retirement, however, I will only receive a lump sum of 3 times the annual pension which would be paid to me.

Any help here please.