Pension Actuaries..

[jessica]

Are there any Pension Actuaries on here that can give advice on CETV's and other financial issues on divorce?
Just need to know how solicitors work out Offset costing using CETV's in final salary schemes
calculations would be helpful.

thanks

[Ginge R]

Jessica,

If you want to message me, I might be able to give you a steer. I'm not an actuary but I've just taken a client through a very lengthy (4 years) DB/FS divorce pension sharing order scenario so CETV are seared into my mind right now!

[PurpleMoonlight]

By offset to you be using other assets in lieu of pension splitting?

If so, it does depend on how close the parties are to retirement but I believe the basis of 1:4 often applies.

[The Leaper]

Jessica,

You can get some general information regarding pensions and divorce here:

http://www.pensionsadvisoryservice.org.uk/life-eve...

You can also call them on 0300 123 1047

They will give you specific guidance on any issues. Their services are free, non biased, and independent of any other organisation.

R.

[Ginge R]

It's important to know which scheme is being addressed - TPAS offers good general and non specific info, but it isn't *that* good. A partner becoming a pension credit member of the Armed Forces Scheme for instance, stands by to be right royally shafted due to the particular way it is set up for divorcing spouses unless they know what trip wires to look for. In an extreme case, I learned of one couple who remained loving but who decided to get divorced for tactical reasons because of how appallingly badly it discriminated(s) against some widows - let alone divorcees.

Getting a solicitor is one thing, getting an actuary is vital too, one that can communicate in something other than Klingon too, but get one that is informed and qualified in depth and experienced in regard of the scheme to hand. Divorce solicitors, in my experience, play the pattacake game, they know how to make money from sending each other meaningless letters -pand the worseknow how to drag things out, creating more misery and heartache - it's a game that many are very experienced at. It's a cliche, but so true - time spent cordially discussing and agreeing things before you task the solicitor and actuary is priceless.

If you would rather a female solicitor/adviser (forgive the assumption) there are some very good ones out there who specialise in looking after ladies who they know, are vulnerable and baffled by pensions and divorce. A good holistic team should become your friend in this, and I don't mean in the cloyingly suffocating and exploitative way that can so easily happen.

Edit: Not all divorce solicitors act like that, I'm sure. Apols to all diligent solicitors reading this.

Edited by Ginge R on Friday 1st August 08:13