Do I still need an actuary report in light of this? Pensions advisors?

[numbbrain]

Hi

It has been mentioned that because Ex has a final salary pension, I should get an actuary report. He has specifically asked if all benefits are included in the cetv?

The reply from the pension trustees is below:

The CETV also includes additional lump sum and death benefits such as spouse’s, dependants’ or children’s pension they would be entitled to in the event of your death.

I am keeping all the equity in the house and 35% of his pensions, so my main interest is in the full, true value of the pension.

TIA

How big is the pension? If sizable might be worth an actuary report. Can you calculate what the cevt would buy you as an annual pension and compare it to what the final salary annual persion would be.

The cetv is 538k or a pension of 16K/year (so if it was split 50-50 I'd get a pension of 8k.

The 250K can buy a simple annuity of 11k, so I guess I'm better off with the lump sum.

I'm thinking there is no need to pay for an actuary report.

That cetv looks really good for 16k a year. 33 times the annual is good. Mine are more like 25 times annual. I'm no expert though!

250K can buy a simple annuity of 11k, so I guess I'm better off with the lump sum

massively short sighted option unless you can live on 11k for 30 years or more without it ever increasing. If the 8k is inflation increased each year that could be a massive mistake

How about working for a living instead of trying to live of ex partner for life?

Missed you have no reason to assume OP doesn’t work. Splitting a family’s assets is what happens when a couple divorce.

To BGO

Correct that assets are split after Divorce, but should not be done in such a way that enables one to put their feet up for life at the others expense. Refer to the Link below:

www.familylaw.co.uk/news_and_comment/appeal-court-judge-tells-ex-wife-to-get-a-job-in-maintenance-payment-dispute#.W-5UYDgzbIU

What OP hasn’t told us is the amount of equity in the house. There might not be a lot. Adding that to 35% of the CETV might give her 50% of the assets.

Bitter much Missed

OP the CETV is the full value of the pension including the expected pension that would continue to you as a spouse (I'm assuming you're female here) after your DH's death and pension increases (final salary pensions have to be increased by inflation for membership after 1997)

What's offered appears to buy you more because you are probably comparing it with a pension that dies with you and no increases. Which is fine as long as you understand that and the overall asset split is fair

You are looking at this quite simplistically (a 50:50 split of pension would not equal you both getting the same pension for example. It depends on annuity rates if you have to transfer it out, your age and note of course women live longer so get a lower pension as a result).

I could go on but essentially an actuary's report is definitely of benefit if you are doing a deal based on equity in future income.

How about working for a living instead of trying to live of ex partner for life? WOW - missedtheboat. You are viewing through some personal filters there! AND that was rude and uncalled for.

To set the record straight. I do work and have done from before I met ExH and throughout our marriage (albeit it part time when looking after children). Now I am running my own business.

Luckily, we are able to discuss and have come to an agreement where I have 60% overall to compensate for the children being with me part of the year and my much lower salary than Exh.

wobytide - the annuity was just a quick google search to see if my 35% would give me an equivalent of what I'd get from this pension if we'd stayed together.

joycetemplesavage - I am not looking for equality of pension down the line - just the lump sum for me to invest in a way I choose.

We each have other pensions too.

Don't worry about missedtheboat op he stalks these boards and isn't able to move on from his divorce, the opposite of what you want to be doing!

The cetv is 538k or a pension of 16K/year (so if it was split 50-50 I'd get a pension of 8k.

This is where you'll need some expert advice. What you post here is probably wrong. Your husband will lose half his income but your income will depend on a number of factors, and is highly unlikely to be as much as the income he loses. That's why most solicitors will tell you to get some actuarial or at least financial advice on the split. The court, when dividing a final salary pension, should try and ensure that incomes on retirement are equal. This may mean a 45/55 split. If then you choose to give up some of that for more capital so be it, but your starting off point may be better than 50%.