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How will my pension be used in the settlement?

  • Dickie mint
  • Dickie mint's Avatar Posted by
  • Senior Member
  • Senior Member
29 Mar 12 #320586 by Dickie mint
Topic started by Dickie mint
Been looking at old posts on pension sharing etc, and find it a bit heavy going and not particular to my situation.
Now had a month to come to terms with my wife''s demand for divorce, and I know that it will happen.

I am a public sector worker due to retire in 4 years, with a lump sum and then a monthly amount for the rest of my life. This was to be part of our midlife planning, and would allow us to take life a bit easier and enjoy each others company and some travel etc! We will both be in our early fifties. Obviously I was horribly wrong!

Wondering if someone could advise me what is likely to happen with the pension. We still reside together in FMH which has over £200,000 equity. Kids of 14 & 11, no other savings or investments, and we agree (at the moment) on shared residence of the kids.
Pension lump sum £100,000 followed by £13000 per year.
She has small private pension, not sure of its value.
Living together for 16 years, married for 15 of them.

I am quite scared as to what is likely to happen, my plans are now looking very unlikely. I should have been retiring and paying the mortgage off, and taking life easier. I can''t come to terms with the fact that I may have to work longer, and not be able to get a mortgage etc etc, all because my wife & I grew apart!

Advice welcome Please!

  • Hamilton1
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29 Mar 12 #320597 by Hamilton1
Reply from Hamilton1
Hello there Icemanmitch,

Without looking at all of the facts and your personal circumstance it is very difficult to give you a precise indication of what will happen to your pension. But on the basic facts that you have given I would say:

1. This is a medium to long term marriage and therefore the starting point will be 50/50 with the Court willing to hear arguments as to why they should stray from this.

2.Housing the children will be the Court''s priority at least until they are 18 or have completed full time education.

3. If your wife does not work you may well be be left with paying her some form of maintenance.

4.I personally, certainly advise my client to try and retain their own pensions as it is so pension sharing orders are so expensive. If this is your main priority it may be that your wife will receive a larger chunk of the equity that is in the FMH to compensate.

5. Suitable arrangements will have to be made for you both to rehouse and have sufficient space for the children to stay with you. If you are based in or around London this may be difficult but nay be possible elsewhere.

If you have a little more information that you would like to share perhaps a more precise indication can be given?

It may be best if you take a full note of your circumstances to a solicitor for a more precise indication.

Kind regards,


  • ian conlon actuary
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30 Mar 12 #320882 by ian conlon actuary
Reply from ian conlon actuary
Firsty, your pension clearly forms a substantial proportion of your overall assets and I''ll focus purely on this as I''m not going to stray into areas outside my expertise.
There are really only two conceivable options, firstly - pension sharing and secondly offsetting the value of your pension against other assets so you keep your pension and your wife gets other assets of comparable value, if this is feasable. You may end up with a combination of the two.
With offsetting the value of the pension the issue of what value to place on your pension arises as it is not directly comparable with other markerable assets.
Pension sharing is, in my view, the cleaner approach as the issue of what value to place on the pension does not arise.
With pension sharing, the important issue is to understand what the implications are (for both parties) in terms of income from specified retirement age, this may then give you an idea as to how much longer you will have to work in order to build up additional pension.

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