Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
Divorce/separation

Here you'll find divorce help and support from other Mners. For legal advice, you may find Advice Now guides useful.

Original poster

Teachers Pensions

61 replies

Billybob31 · 14/02/2024 22:58

Has anyone else having difficulty with teachers pensions during a divorce?
I'm waiting for my pension valuation and it's taking months! I've waited 6 months and no sign of a valuation.
Every time I speak to Teachers pensions, they have a different story about why there is a delay. They seem to have stopped providing valuations altogether at the moment. The lady I spoke to today told me she can't give me an estimate of when it could be ready. It could be another 6 months!
It's been very stressful as I need the valuation before I can move forward with the divorce.
Anyone else in a similar position?

OP posts:
converseandjeans · 14/02/2024 23:35

If you log on it tells you what your lump sum will be as well as how much you can expect to be paid at age 60. This changed recently as it used to be a smaller amount at 60 and full amount at 67.

converseandjeans · 14/02/2024 23:35

I don't think you get a figure for what the pot is worth though.

Mumof3confused · 15/02/2024 00:26

Yes I’m in the same boat. Final hearing coming up, and the actuary can’t update the report. It’s due to the McCloud judgement. I have no idea what will happen if the CETV hasn’t been received by the time we get to the hearing. I assume everything can be agreed with a ‘pension split as per pensions report’ but I don’t think the order can be signed off until the report is received. We have a report with old figure from Feb ‘22 and it helps that I have a minimal pension so I am going to push for that being used.

WeDeserveBetter · 15/02/2024 07:26

Lots of public sector pensions affected. I waited 11 months for my NHS pension CETV which was just awful having to be nice to my narcissistic ex all that time. Then was a few days over the 12 month limit on applying for the Final Order so more waiting and expense NIGHTMARE

Mumof3confused · 15/02/2024 09:02

Oh no, I didn’t realise there’s a 12 month limit! From when? @WeDeserveBetter

Mumof3confused · 15/02/2024 09:03

Oh I see what you mean now. I actually already have my final order - thankfully!

Original poster
Billybob31 · 15/02/2024 10:46

It's so frustrating. I have no idea how much my pension is worth as they won't even give me an estimate.
So, my ex is refusing to start negotiations.
I think he's assuming my pension will be much bigger than his and that way he'll get a bigger share of the house. I have both our children living with me full time and I'm so worried that I'll end up with a smaller share of the equity to offset my pension.
Teachers pensions can offer no guidance or estimate a out the value of the pension.

OP posts:
Original poster
Billybob31 · 15/02/2024 11:03

Can anyone tell me if I will get the value of my pension now, or will it be the value of the pension at retirement age?
My ex thinks its the full value of the pension when i retire. I'm 45 now and will be working for at least another 20 years but what if I get ill or give up teaching? How can I give him a share of a pot that may not be there in the end?

OP posts:
Marmight · 15/02/2024 14:45

I think the CETV is of now for precisely the points you mention of basically of not knowing what the future holds. None of us have crystal balls

Same applies if you had non-defined benefit pension pot too.

Pinkfluffypencilcase · 15/02/2024 14:50

It’s the value now. I got a share of ex husband’s teachers pension. He has since left teaching.

Mumof3confused · 15/02/2024 15:07

The CETV gives you the current value and something for a pensions actuary to work from. They will work out a split, usually the aim is to equalise pension on retirement (it’s not an exact science). If you are the same age and you’re the only one with a pension, the likelihood is the pension will be split 50:50.

The actual transfer happens when your agreement has been signed off. At that point, your ex will become a member of your TP scheme with his own account and the % of the value at that point in time is transferred from your pot to his. If you keep paying into your pension after that point, he doesn’t get access to any future payments.

WeDeserveBetter · 15/02/2024 16:00

You have a year from Conditional Order to apply for the Final Order. If it over 12 months when you apply for the Final Order you also apply for an Out of Time Order to explain why you took so long.
It just takes more time and if using solicitors an excuse to charge you more money- you can tell I am so over this process...

Original poster
Billybob31 · 15/02/2024 19:41

Thank you. What's so depressing is that I asked him not to opt out of his pension, but he insisted. Now he will have part of mine, that I've worked hard for.
I won't want to lose part of my pension so I'll have to pay him a bigger portion of the house equity. Meaning I'll struggle to find a suitable new house of the kids and I. He knows this but doesn't care. He just wants to punish me for leaving.
This whole process is awful. Teachers pensions taking so long to give me a valuation is adding to the stress.
I think I try to find a way to switch off for a while.

OP posts:
converseandjeans · 16/02/2024 08:39

Does he not have his own pension? I don't think a teacher pension is going to be enough for both of you to share. Also if you're only 45 then no way should he be eligible for future payments. He might base things on lump sum you will get. But for me that will buy a car to last or something like that.

Phineyj · 16/02/2024 08:44

I haven't had this issue but when I needed advice on TPS in a tricky situation I found Wesleyan very helpful (advice was free too).

Mumof3confused · 16/02/2024 22:28

@converseandjeans Teachers Pensions are some of the most generous pensions out there and can be very valuable.

converseandjeans · 17/02/2024 09:20

@Mumof3confused

Well I'm on track to get £10k/year. Is that considered high? It definitely wouldn't pay living expenses for two adults. So if I had to share it with an ex partner I wouldn't be able to manage on that.

Phineyj · 17/02/2024 11:09

There is a significant gender pay gap in TPS (and in teaching salaries generally). It's only a generous scheme for full timers with no maternity leaves. Plus it is likely to be watered down in future as it's unfunded with a huge deficit.

Wafflethewonderdoggy · 17/02/2024 11:13

Yes I’m really worried about this too
we are doing a bit of an approximation as I multiplied what I’m going to get annually by 20 plus the lump sum to get a really rough idea to compare to x’s private pension pot. We think the different is roughly the amount of his inheritance he’s ringfencing so we’re both happy with leaving the pensions alone on that basis.
but no idea if the court will accept our rough estimates as a basis for our consent order or not.
it’s frustrating when we’re both in agreement. I just want it done.

Wafflethewonderdoggy · 17/02/2024 11:14

My annual expected income in todays money is about £7500 so I’m reckoning my pot is around £150K

Phineyj · 17/02/2024 12:43

? TPS has no "pot" - it's entitlement based, being a defined benefit scheme.

Original poster
Billybob31 · 17/02/2024 12:45

How are you all workout the figures out?
Mine is predicted to be around 10k a year too. So, if I times that by 20, that would make my pension pot around 200k. So, if there's a 50/50 split I'll owe him 100k?
But, I haven't put in enough to get that amount yet? Surely, that figure is based on what I'm predicted to get if I carry on working till I'm 60/65. As appossed to what's in the pot now!?

OP posts:
Wafflethewonderdoggy · 17/02/2024 12:48

No my figure of £7500 is what I get on my annual statement saying that is what I’ve accumulated so far, in todays money.

and I know it’s not a ‘pot’, I guess I meant the very rough cash equivalent value which you need in order to compare with a private pension which is a pot.
it’s so hard as it’s comparing apples and pears!

I think you can also compare it by seeing what annuity they could buy with their private pension pot. As ours is kind of like an annuity.

Pinkfluffypencilcase · 17/02/2024 12:55

It’s current value bit future value. Do you have that figure?
does he have a pension at all?

Notquitegrownup2 · 17/02/2024 17:06

There is a pensions ombudsman. No idea if they could help but it may be worth looking at their website. It seems outrageous that it might take them a year too send you an estimate . . .