Form E!!! Missing Attachments

Thank you.
We are going for a pension sharing order

How much pension does he get per month or year CB?

Will the pension scheme rules allow you to take your 50% share into payment as soon as the sharing order is implemented?

Hi,

It is never an exact science trying to estimate the value using current annuity rates. The trustees of his scheme will use their own assumptions to arrive at the valuation.

However, it gives you an idea that the value of the pension will be significant (it may be higher than the estimate) and therefore, it is worth investing time and money in getting the next step right.

That step is what to do with your 50% share.

It can be implemented in a number of ways and different schemes offer different options. You may have an internal option to become a member (in your own right) of the existing scheme or the trustees may insist that you transfer out to an external scheme of your own choosing.

Each option will have its pros and cons. A thorough appraisal of the internal and external options based on your future goals and objectives will enable you to make an informed choice.

If you need any further assistance, please post again or feel free to send me a PM.

Regards

Phil

Just trying to figure out how this will work - no CEB so the solicitor does an annuity based estimate of the pension pot.Will a judge work on that basis - without any evidence from the pension scheme? How will the fairness/parameters etc be assessed?
If the pension share without a CEB gets past the judge - the cash amount transferred into your name will be pot luck ?
What if it's much less than £150k?
Your solicitor will complete the pension sharing annex
www.hmcourts-service.gov.uk/courtfinder/forms/form_p1_1205.pdf
asking the court to order the pension scheme to transfer 50% of the fund to the ex-spouse - to be able to implement the order will the pension scheme then calculate the CEB for free?

Sorry CB for rocking the boat - your solicitor's approach is fascinating and attractively simple but I wonder if it will work and if so will it work in your favour and give you half the income?
Has your solicitor told you what the deal will be if you become a pension credit member in this particular scheme?

Thanks for all the help.

ICI scheme/trust rules are online
www.icipensionfund.org.uk/key_docs/
There's a reference to pension sharing in the Trust Deed but I can't find the actual rules.
There's a contact email - www.icipensionfund.org.uk/
might be worth explaining your problems to the contact there?

As spouse of a member you can't request a valuation but I was sent a copy of the scheme rules for pension sharing by the pension admin office.
It would be unusual to be allowed to keep a share/pension credit in the defined benefit section of a private company scheme.

Has your solicitor considered asking the court to order a valuation?

Just found the pension sharing rules - tacked on to Part 5
www.icipensionfund.org.uk/key_docs/docum...utive_1996-part5.pdf
Section 3 Page 264
3. METHOD OF DISCHARGING PENSION CREDITS
3.1 On receipt of a Pension Sharing Order in relation to a Member and subject to the issue by the Trustees of a Notice of Implementation the Trustees wil calculate a Pension Debit and the corresponding Pension Credit in respect of the Member concerned and will discharge their liabilty for Pension Credit for and in respect of the Ex-Spouse:
3.1.1 by paying the amount of the Pension Credit to a Qualifying Arrangement with the
consent of the Ex-Spouse (the "External Transfer Option") or where such consent
is not obtained;
3.1.2 by paying the amount of the Pension Credit to a- Qualifying Arrangement without
the consent of the Ex-Spouse (the "Default Option")."
Looks from that as though you'll have to transfer out - worth preparing now - considering what you can do with your share. That's when the fun really starts.