Agreeing financial split - pensions

[Ashleyupnorth]

Quick question please regarding those who have agreed a financial split and therefore have managed to reduce legal fees. How did you agree on how to split your pensions without legal advice, particularly if there is a large difference in income/pension?

Thanks!

Most couples in a long marriage do pension share regardless of disparity in pension.

I deferred the equity payment from the house for 3 years until youngest stayed school. Mesher orders are really really rare these days.
pension division is an emotive subject and one I dont particularly agree on. How much is the disparity between your pensions and why? In my case my ex was always the lower earner and that would have been the case whether he had married me or not. He didn’t not sacrifice his career for me nor have time out of the workplace to raise children ….. I argued and won that we both walked away with our own pensions (I did not give him more equity to offset my larger pension either)

@redemptionwoes we have not yet had our cetv, I am still in the process of trying to get my employer to complete a form (i am nhs and he is government as well). I am a much lower earner and have worked part time for a large chunk of my time in the NHS pension.

I would like to ideally come to an agreement that has the least impact on DD. She is 15 but if I stay in the home for example for another 3 years till she is 18 I then have 3 years less borrowing for a mortgage (cannot afford realistically to pay a 50% share of equity, or even less) and take on the mortgage. There's quite a lot of equity in the house, on a 5 year fixed fee with 8 years left on the mortgage.

Anyway, back to the pensions do we need a cetv or can we just go by our statements? Thanks all.

You should definitely both get CETV. From what you have shared his pension will be more than yours. Maybe this can be a bargaining tool for you to get more equity and maybe keep the house. Educate yourself as much as possible on all things pension. It'll help.

I really should @Missmyoldlab , I hardly understand my own let alone his. His pension will be more than triple mine and you're right it will be a good bargaining tool. I will definitely get a cetv. Can we just use a latest pension statement? When i spoke to Amicable it seemed we could if needed use a statement or other paperwork if we couldn't, worse case scenario get a cetv.

Hi, I’ve just looked at my latest annual pension statement which was issued in August. It was less than my CETV by about 40k. Definitely get the CETV for you both to make sure your agreement is based on accurate figures. I’ve looked online and the local government pension scheme is similar to our NHS scheme. I’d imagine you’ll be entitled to a fair amount, although you’d need to consider whether any of either pensionable years could be excluded if paid into prior to marriage/ living together .

Oh goodness @MissmyoldLab thank you for letting me know. I didn't join the NHS pension till we were living together. H joined his pension probably till 3 years before we met. H mentioned he was a while ago amalgamating his government pension which was as I say opened approx 3 years before we met with another pension he had before that and according to him its now been over a year that this still hasn't been sorted and he has no access to statements or the pension portal because of this amalgamation that hasn't yet been done?