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Teachers pension vs Railway pension

  • Shonalee
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08 Feb 22 #518831 by Shonalee
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Hello, after a bit of advice please. Marriage of 15 years, W Teachers pension CETV of 250k plus private pension of 16k. H Railway Pension CETV of 394k.
W aged 54, H 52.
Solicitor has advised actuary report. W agreed, submitted paperwork and payment for her half. H has half heartedly agreed to actuary report, signed Consent Order (I think that's what it was at first hearing?) in November, however hasn't submitted paperwork or payment on his side. Second hearing end of march so will have to adjorn if actuary report not done (which it won't be!)
Is it worth having actuary report done? Concerned that teachers pension may well be worth more than railway pension once fully looked at?
All a bit of a minefield!


  • WYSPECIAL
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08 Feb 22 #518838 by WYSPECIAL
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Ages and size of pensions suggest they have been in place much longer than the marriage.

You need to post details of all assets, current incomes and children for someone to comment.

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08 Feb 22 #518839 by Shonalee
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OK, sorry about that- first time posting on here.
Marriage 15 years.
No children.
H salary 58k
W salary 47k

Equity in property around 300k
No credit cards/loans

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09 Feb 22 #518847 by WYSPECIAL
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Given your ages, salaries and that there are no dependants why not exclude the pensions and just each keep your own.

An actuary report will be expensive, your ex is reluctant to have it done and you expect the result to be unfavourable to you. Why bother?

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10 Feb 22 #518853 by Shonalee
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My solicitor is advising to have the pensions looked at due to the railway pension being over 100k more according to CETV. So in theory the railway pension is more valuable, but once the benefits of the teachers pension get explored etc, I'm quite concerned that the teacher pension will work would more lucrative.
I was ideally hoping that someone might have had a similar experience to this?
During the marriage, H overpaid his railway pension, which was a joint decision, whilst I paid the majority of the household bills

  • hadenoughnow
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10 Feb 22 #518864 by hadenoughnow
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A lot depends on what has been accrued during the marriage. I suspect the Railway pension is pretty valuable. I cannot imagine it is less valuable than the TPS.
If there is a big disparity in pensions and no pension share questions may be raised when you apply for a consent order.

The usual approach is a pension share to equalise incomes on retirement. If needs indicate that can involve the whole fund or simply the pension accrued during the relationship, including any period of cohabitation. Did you live together for any length of time before you married?

Hadenoughnow

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11 Feb 22 - 11 Feb 22 #518865 by Shonalee
Reply from Shonalee
Cohabited for about 18 months prior to marriage (marry in haste and all that ?‍♀️?)
Qould offsetting not be an easier option? Or do you think that there's not enough equity in the house to allow for that and to cater for both sets of housing needs?
Last edit: 11 Feb 22 by Shonalee.

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