The qualitative study reported here is one of three studies commissioned by the Department of Social Security and undertaken in 1998 by Social and Community Planning Research (now the National Centre for Social Research) to monitor the impact of new legislation on the treatment of pension rights on divorce.
A digest of posts in Pension:Legal Aspects of Pensions on Divorce covering: LAWYER'S VIEW OF HOW COURTS APPROACH OFFSETTING; VALUATION CONSIDERATIONS FOR OFFSETTING; PROVISION OF PENSION SHARING INFORMATION; UNDERFUNDED SCHEMES; FINANCIAL DAMAGE LIMITATION FROM PENSION SHARING; TREATMENT OF PENSION CREDIT; IFA SELECTION
A digest of the posts in the Pension: Final Salary Pensions Forum covering: QUESTIONING WHETHER CETVs ARE UNDERVALUED;MORTALITY ISSUES;ADDITIONAL STATE PENSION;PENSION OFFSETTING;CAN A PENSION SHARE ORDER BE IMPOSED
A digest of posts in Pension: Solicitors and CETV Values covering: CETV CORRECTION FOR OFFSETTING - APPARENT COURT PRACTICE - THE 25% ‘RULE’; PENSION APPORTIONMENT IN/OUT MARRIAGE; AN ACTUARY’S VIEW ON THE 25% RULE, PENSION APPORTIONMENT IN/OUT MARRIAGE AND OBTAINING ACTUARIAL REPORTS; A BARRISTER’S VIEW ON CETVs, THE 25% RULE, PENSION APPORTIONMENT IN/OUT MARRIAGE AND OBTAINING ACTUARIAL REPORTS; SCOTTISH LAW; SOLICITORS, FSA ACCREDITATION + COMPLAINTS; TAXATION + CETV ADJUSTMENT
Pension sharing does not necessarily mean a 50/50 but it is often the starting point. Much depends on whether all the other assets have been dealt with. The experience and knowledge of your lawyer and that of your stbx may also come into play. There are no straightforward formulae it will (should) all depend on the circumstances of your case.
A divorce under Scottish Law is different because only the value gained during the marriage is taken into account. The CETV (Cash Equivalent Transfer Value) is a crude but the simplest way of putting a value on the pension.
Sharing Pensions is a website focused on annuity rates, annuity quotes, pensions and retirement planning including long term care annuities. To value a defined benefit pension scheme on divorce, use the online valuation to produce an Actuarial Report and compare this to the CETV from the provider.
The Pensions Advisory Service (TPAS), is an independent voluntary organisation that is grant-aided by the Department for Work and Pensions. TPAS provides information and guidance to members of the public, covering State, company, personal and stakeholder schemes.