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Divorce/separation

actuary report

12 replies

conway · 14/03/2015 21:37

Does anyone know if an actuary report is really necessary?
we are sorting out finances in our divorce and both solicitor's say we need an actuary report as my exH pension is very large and he is offseting this and giving me the house, My ex is adamant that we don't need one and saying that my solicitor is just trying to get money out of me. The other problem is that we are told it could take 6 months for the actuary report.
It has already been 6 months since I filed for divorce and we are still living int the same house. I will be a nervous wreck if I have to wait another 6 months.
Don't know what to do as feel I am been pulled one way by my solicitor and another by my Ex.

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Gibbsbasement · 15/03/2015 00:27

Do you trust your STBX 100% ?

I have been advised by my solicitor to get an actuary and will be acting on that advice. Pain now... Reward later?

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springalong · 15/03/2015 10:47

Please don't be foolish - the house value now and the future benefit of the pension (if large) are very likely to be substantially different. Get a proper valuation done.

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WildwestWind · 15/03/2015 11:50

Definitely get the report. Pensions are precious assets. Could ExH have got it already, been amazed by the amount and is trying to keep it from you?

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caroldecker · 15/03/2015 12:10

I wouldn't trust your ex, particularly as both solicitors are saying do so. Depending on his age and job, pension pots can be very large.

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LoveVintage · 15/03/2015 12:14

Yes, definitely. Pension valuations complex. You only get one shot at settlement. Get your solicitor to contact an actuary to check timeframe, or even call one yourself.

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conway · 15/03/2015 14:38

Thank you .I think I will do some research to see if there is a quicker one.
Living together is so hard, I just want it to be over.

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springalong · 15/03/2015 15:45

Didn't we all!! But pp is right - you will only get 1 go at settlement so best to get all financial facts fully on the table. Also if pension is large due to ex having had a decent career while you looked after children do consider spousal maintenance too. I have found the disparity in household incomes/ assets to be more damaging to the DC than I realised it would be.

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NicoleFamily1 · 15/03/2015 19:06

If the pension is large and particularly if it is a Local Authority / armed forces pension etc, it is worth spending the money on an actuarial report.

Where are you based? I can recommend a good actuary. Length of time can be determined by your ex's profession as some take longer than others to calculate the cash equivalent value.

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toomanyprojects · 15/03/2015 19:17

I am just starting to fill out Form E - my ex and I have both got the valuation figures from our companies. Should I be looking to use an actuary? They are private sector pensions, Ex's will be over 250k I think mine is 100K. Is the cash equivalent value likely to be wildly mispresentative? We have 300K in equity in the house so I was thinking to leave his pension alone and keep the house..

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conway · 15/03/2015 19:43

I am based in Colchester,Essex so looking for an actuary in that area.

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NicoleFamily1 · 15/03/2015 21:55

Pensions can be a good negotiation tool, if you wish to take a larger share of the equity from the house. Service pensions should always have a report, and you would need to have a report done if you were wanting to equalise incomes with a pension share. The CEV should be fairly reliable, but other factors can come in, i.e. whether or not the pension is already in draw down.