Pension on Divorce Expert (PODE)

[babysteps22]

Hi
Has anyone been advised to instruct a PODE re their pension?
I am the main wage earner with a low 3 figure salary and a defined benefit career average pension scheme. I am likely to have to sacrifice some of that to my STBXH who may be taking on a greater proportion of childcare after the divorce. Or at least that needs to be on the table.
We're very amicable so far and I want to do the right thing. The mediator has suggested that instructing a PODE would be helpful to clarify the situation. But it seems expensive and I'm not sure where to start.

Gov.uk divorce. I have applied 7/4/22 paid the fee and heard nothing. Iv tried ringing the number and sending emails no reply. Anyone been or going through the process.

What do you mean by a 3 figure salary?

It varies but £120-140ish

Maybe just start with getting the CETV from your pension scheme. Knowing that figure will help with knowing if more info is useful.

Yes I'm waiting for the CETV (it's taking ages). Thank you

Your annual statement of benefits should have a valuation figure, for most DB schemes.

Basic options -- pension value treated as another asset and offset against other savings (but beware, pension £ not worth as much as immediate cash £);
ex-partner becomes a member of scheme in own right, getting a proportion of the value;
ex-partner gets some of the pension once it starts being paid.

Obviously your ages affect decisions about best way forward.

Thank you that's really helpful. Some decisions to make. X