[Closed] Pensions tranfers in D.I.V.O.R.C.E...

I think you can specific whatever you like as long as you both agree on it.

THus 10% of the value a year ago is no longer 10% of the value now…. BUT… it’s a forever changing goalpost!

Is this not why a percentage is the fairest way to express the split?  Speaking as someone who used to work in occupational pensions but has never been married

Is this not why a percentage is the fairest way to express the split? Speaking as someone who used to work in occupational pensions but has never been married

Probelm with most public sector pensions is that there is no pot of actual money to split, so any value is based on a specific date predications of future value etc.

That isn’t really a problem.  Regardless of whether a pot of money or actuarial calculation the value is only true at one moment in time and can go up or down.  What is more fair, for these fluctuations to be shared or to fall on one party?

A cetv is normally guaranteed for three months.
A pension sharing order typically is described in percentage terms.
So cetv requested and divorce settlement agreed.
Then when the pension is due to be split, typically some time later, a new cetv is requested (they can charge for this). The pension is then split as per the percentage not in monetary terms.

If you agreed to 10% then this would not be a problem. Did you agree to a figure or to the process that produced the figure?

CETV fluctuate quite a lot so depends whether you go for percentage vs amount as the difference can be large. I've been monitoring CETV for quite sometime taking monthly quotes due to my DB scheme closing and have seen 6 figure differences depending on gilts etc..

well it's offsetting a portion of my pension against her keeping more house equity..

Initially, based on house valuation and CETV, we've come up with a reasonable(ish) split.

I suspect my pension has grown by more than the house value...which works better in her favour...

However, I suspect for my own sanity I'll just let things roll so I can begin my life again!"!!

DrP

Could have gone either way, could change again before everything is settled and who knows what the values of property or pension will be when you retire.  I vote for keeping your sanity

A Pension Sharing Order can be for a fixed amount, or a percentage of the CETV in Scotland but can only be a percentage in the rest of the UK. So the answer to your question is that it depends on the jurisdiction of your court.

Normally, as mentioned above, the percentage actually makes more sense since values change over time and this means the split remains the same - whatever you’re offsetting it against will also generally change over time. We had a scheme member fall foul of the fixed amount issue when the trustees reviewed the TV basis (less generous) in the interim - what he thought was 50% turned into nearly 70%.

The three month guarantee for a CETV does not apply for divorce cases - ultimately the split will be calculated at the implementation date (its covered by separate legislation to 'normal' CETVs).

Don't really have a lot to offer other than I'm probably a year or two behind you. What a painful and drawn out proceedure the whole thing is.

If it's any help I've decided to focus on a strategy of 'optimising for happiness' rather than a specific percentage point or a sense of unfairness. Essentially there's a cost of doing business and to me, being able to be in control of my own destiny is worth a lot of money.

I stand corrected on the three month guarantee period…