POLICE PENSION ACTUARY REPORT OR CETV

Hi all, I am hoping for some advice. I am currently divorcing my husband after 20 years of marriage. He is a police officer with 23 years service. My solicitor has told me that I have to get independent financial advice with regard to the splitting/sharing of his pension. I have no idea what/who to get this advice from..My husband has provided a CETV certificate which states that 5 months ago, his cetv was £230K but having read so much on the internet, it appears that this could be considerably less than the true value which could increase up to 3 times this amount in the next 7 years. My solicitor has advised that the divorce cannot be completed until the pension is sorted. Our marital home has been sold and we split the equity 50/50 (20k each). My money is being held by my solicitor as I had to have legal aid and I need to pay off their fees first before any remainder is paid to me. I am very keen to get this sorted asap as financially am struggling. Can anyone recommend an acutuary or financial advisor that can help to advise my solicitor as to what sort of split/share, we should be asking for????. Regards cathy.

Police pensions accrue at 1/60th per year for the first 20 years and then 2/60th a year for the last 10 years making a total possible pension of 40/60th. As you may be aware part of the pension can be commuted into a lump sum with the pension reducing accordingly.
It would be unlikely that he would want to give up any part of his pension and may well offer you a lump sum now to buy you out.
If you were to share now 50/50 then you would be looking at roughly 13/60th or roughly 22% of his pension.
Depending on the work involved a pensions actuary report is typically between £250 and £400.
You have to appreciate that the report will be independent and is prepared for the court rather than the parties involved. That being the case you should approach your stbx and invite him to ask any questions that he feels relevant of the actuary who prepares the report. That way you will have a balanced report and you can both share the costs.
The actuary could well find that you should be awarded far more of a % than the 22%.
I can't advise of any actuaries, perhaps another wiki member can, alternatively try googling for the actuaries governing body to point you in the right direction.
Kind ones Leo.

Actuaries value the pension,the court decide the pension division.

After a long marriage often the aim is to equalise income upon retirement which can mean the share is a few % up to 100% depending how other assets are shared respective income future income potential and age (women live longer + life expectancy varys depending where you live).

Contact Peter or Nigel here,

www.wikivorce.com/divorce/Services/Pensi...uations-and-Reports/

Hi,

Leo has set out to some good points.

However, it would appear that offsetting is a non starter given the value of the police pension and the fact that the marital home has been sold.

I use Bradshaw Dixon Moore actuaries for the work I undertake with clients in this area.

They will be able to help you with any calculations. As Leo points out it is best to give your instructions jointly to save on costs and to ensure all the right questions are asked.

The argument around the CETV will potentially need a financial adviser's input.

You can contact Peter Moore at Bradshaw Dixon Moore here - www.bradshawdixonmoore.com

Regards

Phil

Hi Leo

How did you arrive at the figure of roughly a 22% split please?

Much obliged
BD

Pm me for further details

Regards Leo

Hi Caffbag
After a 20 year marriage the court ordered an actuary report for my ex's fire brigade pension- it cost £1000 and we were ordered to each pay half- I ended up with 62.8%...