CETV values and offsetting

[winniemum]

My ExH really doesn’t want to share his pension but is willing to offset my claim on his pensión
Do the CETV values help with the calculations?
What I’m asking is, is it possible to get a pension value without going through an actuary, and would this be higher or lower than the CETV value? Thanks.

I was told by solicitor that reason for actuarial valuation is so that it can help
make a fair split based on future benefits from the pension, so things like age, health and life expectancy are taken into consideration. Ie if you were splitting a pension 50/50 it might end up 55/45 in CETV terms once all things considered.

Also recall seeing sonewhere that actuarial valuation advisable for funds > £100k.

Thanks circular that’s helpful. I think I should go ahead with an actuary then as he’s got just over £100k more than me. It’s going to cost us £3k in actuary fees!

3k - ouch!
not got a price for mine yet, or how long to wait to get it done.

If you have a CETV value for both of them are they both Defined Contribution pensions? If so then you already have their actual value to compare and split if required.

An actuary would normally only be needed for a Defined Benefit pension which if you have a CETV already suggests that the value had already been assigned(or is a Contribution pension)

Right - course he doesn’t want to share his pension. But it’s an extremely valuable marital asset, which you will be entitled to. Imagine you agreed to offset- what are your plans on retirement? Please don’t give this up without some real thought and advice: there’s a tendency for women to focus on the home and neglect the pension. Poverty in old age is real and a risk. It’s extremely hard to rebuild from zero because of compounding etc. what’s your position if you agree? What’s your state pension forecast?

I am on course for a full state pension.
We both have teacher’s pensions, but he’s adamant he won’t share it. He thinks it’s immoral for me to take any of his pension that he earned before we married. Thankfully I’ve got a brilliant solicitor who is giving me good advice.
The wait for the valuation to be completed is 3 to 4 months but I’m now going to go ahead with the actuary. I’ve got the money saved up and it may just be a worthwhile investment.

But what do YOU think? Did you take any time to look after children, go back part time etc? If so the “hands off my pension” makes the “it’s not fair” argument hold less weight.

Why do you think you should get a share of pre marital assets?

English law makes no distinction between Pre marital assets and not - they are matrimonial assets. Moreover, if her labour in the home has allowed him to grow those assets, surely she deserves this too (indeed the teachers pension scheme works in such a way so as to give a bigger “growth factor” to those continuing active service as against those who left the profession: if her contribution to childcare/the home facilitated this, then this should be taken into consideration).

Well that’s not quite correct
pre marital assets while not automatically excluded can be if needs can be met without drawing in them
longer the marriage the less likely the distinction between pre/post will be
I’m not saying it won’t be considered but it’s interesting To see why people feel they should be entitled to assets to which they had no input in acquiring
of course jointly acquired acquired should be split

My DH only had 3 years of premarital pension.
We’d been married for 30 years.
I’d like some share as while we were married I supported him through college for a year (while he had no pension and I did) and I earned a pension for 3 years while he set up a business. So I think to split our pensions equally would be fair. Plus he’s hiding money, undervaluing assets and trying his best not to share anything of his!
I always worked part time, bought up the kids and then grew the business, doubling our profits.

So you dropped your hours down and this reduced your pension contributions which will hugely impact your teachers pension (I am a teacher too) and he thinks you aren’t entitled to any of his ?! No. Yours is a very long marriage so to walk away with zero pension from his just doesn’t sit right. What does your solicitor advise?

re the hiding assets you should get specific advice re how to address this issue. You could think about PIs etc.

@winniemum Hi. I know this is an old thread, but I'd be very interested to know what your outcome was.

Hi Pinkcarlisle
Still going through the divorce process and heading for a final hearing in 8 weeks.
It took 9 months to get a pension valuation and the offsetting amount was calculated to be exactly the same as the offsetting amount. So if he had to give me a pension share of £40k for example but wanted to offset instead, he would need to give me £40k in cash instead.
My H is so unhappy with having to share his pension, he’s spent £1000s questioning the actuary. Honestly the amount I’m due just hasn’t been worth it for him.
The judge indicated at the FDR I’d be able to keep my inheritance so I’ve told my H to forget the pension but he’s still not happy because my inheritance is more than his pension is worth.
Everyone is wrong, my solicitor, the judge, the pension actuary and his barrister. He’s a classic narc.
It’s cost me so much I‘m now a litigant in person.
Hope that helps

Sorry that should read the offsetting amount was exactly the same as the pension share amount!

@Busbygirl Thank you, that's really helpful. Good luck... we'll get there eventually.

What stage are you at?
Did you have your pension valued?
Are you going through the courts?