Pension sharing Q

[KimCheese]

Hello!

If my ex and I agree between us on how much of his pension I'm to get - do we need to do much more than ask this to be written into our financial consent order? We're trying to keep costs down and avoid mediation or solicitor costs.

I'm not sure if I'm over simplifying it though.

I'd run it all past my solicitor of course as she'll need to prepare the order.

TIA

If it's an occupational pension scheme, you'd definitely need it formalised with the scheme administrators, in terms of the amount earmarked for you.

Thank you. We're not earmarking, we're going for clean break sharing, so I know that requires paperwork but only after the Absolute.

I guess it's more a question of us making the decision of what he's sharing with me - are we in our rights to decide this ourselves and then instruct the solicitor/consent orders/pension company?

We went to a forensic pension specialist and got a report done

money very well spent (£1k)

H and I are already receiving our pensions (early 60s) so I am hoping to simply take more equity from the house but I'm wondering if that's really going to work out. When I see the size of his pension compared to mine, I think I'd need to take the house itself! I made an appointment with the pensions advisory service they were very helpful (in fact they DID tell me to keep the house) but I have been told on here/seen others told that you need to use a specialist - I wonder if your solicitor would actually refuse to do it without a valuation.

You don’t need to get agreement but it’s important to understand What it’s actually worth and therefore it’s value

if You’ve both had legal advice independently, understand the values, and the agreement on overall split ‘fair’ then you can draw up the order yourselves and have solicitor finalise it for sealing
I think you need this prior to pension company ghee transfer under a sharing order

Thanks - we both have CETVs for the same period of time. I guess I'm just thinking if we take the difference between us, and spilt that as one potential way to do it?

Example:
Him - 150k
Me - 50k
Protect 50k of his as I have 50k.

We split the 100k and I get 50k. Then that's us walking away equally for the duration of our time together. He still has the benefits of his career progressing while I stayed at home with the kids etc.

Depends on equity and any other assets and whats happening with them. Can’t look at pensions in isolation

We've already agreed the assets, and this inline with the advice I got from the consultation with the solicitor. It's just thy pensions to go now.

If you’ve both had independent legal advice, know and agree all assets and splits, then this just needs wiring into consent order and sealing

on the basis that it’s ‘fair’ and both parties have sought independent legal advice and agree to the order it will go though

in that will be a pension sharing order outlining the transfer % and the pension company can enact it - do you have a pension set up to which it can be transferred ?

Yes I do. So it can be that simple? We agree a share and then have to ensure that everyone is satisfied we've had advice and that's it.

Fingers crossed - I'm ready to flop over the line with this!

A judge is only likely to refuse it if it’s not fair
eg one party getting 99% of assets and the other 1%
or if one party appears disadvantaged and gas t had their own legal advice
if these are not the situation than solicitor can draw up your agreed cm sent order and send to court to be sealed and it’s likely to go through unchallenged

We had no problems with this - we decided the split, same as yours, it was written into the agreement by the solicitors, we signed and then contacted the pension company when the absolute was in. All very straightforward.

Thanks for your help all. Now to actually agree and get the bloody thing done! I'm over it!