Financial Order: husband can’t access his pension CETV

[evasmith1912]

My divorce was finalised 12 months ago but I can’t progress the financial order because my retired teacher, ex husband says that the Teachers Pension Scheme won’t release his CETV. He says he has requested it multiple times to no avail. Any retired teachers have advice on how to manage this? Do I just have to wait, potentially years to get this sorted or is there something else I could do?

We were in exactly the same position. Still waiting for his CETV and will be two years next month since it was requested ( and paid for).
I had a sneaking suspicion this would happen so my ex and I ( we’re on perfectly friendly terms) figured out the likely pension division and put that in the financial order submission. My solicitor (god bless that woman) insisted on spousal maintenance until the pension sharing order was enacted by TP. It went through without a hitch. Which is brilliant, otherwise I’d still be married and still waiting! Would this be a possibility for you? My solicitor said, when the pension order is finally enacted by TP, it might be a bit more, might be a bit less than what I’m currently getting as a monthly spousal maintenance from my ex, but it’ll be there or thereabouts. It’s a nightmare. I can’t believe they’re able to get away with being so dreadful.

Are you desperate for the cash? Whilst it’s frustrating and Capital have their issues, without a quote or estimate of what the transfer value is how can you decide if keeping the house is the same deal financially?

If being exact isn’t a high priority I would let him keep his pension and you take the house and draw a line under it. Get this drawn up by a solicitor so it doesn’t come back in the future. That is if he agrees to it!

Sounds like it might be worth completing estimations for the form. Ex husband is already in receipt of his pension and I have my CETV so should be fairly easy to do. He’s 68- any idea what multiplication figure we would use?

If you’re looking g at it to try to claim a share via offsetting or to keep equity I think you need to wait for cetv personally.

while it’s possible use some sort of annual pension income x 20 to try to value it it depends on life expectancy, numbers of years in scheme, index linking, whether lump sums taken, plus of course comparing your own pension if you have one in terms of future retirement income . It’s not just about capital split.

we estimated values because we didn’t share pensions or anything else - just house

also if you want to keep equity for example and he keeps pension you need to factor in things like where will he live …: long term renting in retirement may not be ideal

I honestly wouldn’t settle without the CETV

Are you having a pension sharing report completed by a PODE (pensions on divorce expert)? If so, so long as you have a recent benefit statement for the teachers' pension, the PODE will be able to use published factors to replicate the teachers' CETV that your XH will (eventually!) receive from Capita.

I’m not looking to share pensions. My aim is to keep the house while he keeps his pension; I think (factoring in my very small pension) it’ll be about the same value. I’m not sure the judge would sign off on it though if ex husband would then continue renting for ever, even though his pension would comfortably cover this.

Are you and ex in agreement that you heep the house and him all the pension? Dies he agree to rent forever. That feels very precarious in older years.

We used an estimate, we also had sold the house and split the funds buying other houses - court was fine with this, we both just had to declare we were happy and the solicitor writing the consent order vouched for us being of sound mind (same person for both.

if you are amicable you can work it out without paperwork, it’s just if there is conflict the problem will arise