CETV values - db penisons

Amanda, firstly the Sears pension is now worth something in excess of £300k and probably in excess of £400, and yes, on death you would not receive a spouse''s pension post divorce.
In total, you are looking at pension assets in excess of £500k, I don''t see how you could come to a decision as to what would be the best way forward without some proper advice.
The start point is a full and detailed review of the three pensions.
Sorry I can''t be of more help but you really need proper individual advice, you will not get this from a forum.
Ian

Hi,

I agree with Ian that you need individual advice.

You need to consider what would be the best way of dividing the pensions to give you security of benefit.

If this is done correctly I am not sure you would need a life policy.

Phil

Thank you for your advice. Will do. So if we have about £400 max equity in our house, likely to be reduced further by school & legal fees the Pension is the main asset?

Hi,

Exactly. So what are you looking to achieve from the financial settlement.

Phil

Hi. I would like to achieve a settlement where we have an equal amount to spend every month, now and on retirement, and share the costs of the children equally. I feel I have contributed equally to the marriage and it was a joint decision to take out no pension for me. As he is cash rich I think he would be better to keep the best part of the pension assets and give me the equity in the house, which would give us some security, plus maintenance until my youngest child finishes Uni, when he wold be near to retirement age. He could still afford rental plus a nice life style. A lot of the equity in the house is mine, but his income has been used to finance school fees, lifestyle etc.

Also, just to clarify I do work, part time at a private school. I earm about a 1/10th of his salary but by my working there we receive about 35% discount on school fees. Worth about £7000 in net income a year.

Also, until the children leave school (last one in 5 years time) I will receive some tax credits so am not asking for half of his net income, just an amount that once added to my salary & tax credits will give me an equal net income to him. This is in his favour as the children live with me and I pay most of their costs.