Pension and offset

I have just received proposal for settlement he wants to buy my equity in the house £60,000 he proposed I keep my business sale money and take £43,000 from the pension now this would give me £77,000 I cannot afford a mortgage so I have to rent, he then proposed I take a further 25% pension giving me £100,000 it’s not enough for buying property and I cannot get a mortgage . I am currently on universal credit due to long term illness unfit for employment. I understand that pension is not £ for £ am I better off not touching the pension. He wants to keep the house and not pay maintenance Clean Break, he has a high earning job and can add to his pension for another 10 years. He is proposing 69 % to me if I draw what he suggests now it will leave my pension at 44% £6, 900 per in retirement?

It's difficult to understand your post.

Provide the following:

Your ages.

Ages of any dependant children and who they will be living with.

Length of marriage plus any cohabitation before.

Incomes.

All assets, value and what they are.

How pensions are dealt with depends to a large degree upon your age. You can't live in a pension and you can't access it until your 55 so to a 30 something year old a £ of pension is of less value than £ of house equity. However it sounds like you can access yours and the value of £690k you mention is a lot of money.

Sorry if confusing new to this D, so I am 56 he is 54 split 3 years ago but dragged everything out, I sold my business 9 months ago due to health problems, currently on universal credit and unfit to work benefits, total £900 per month. Business money is frozen

Married 11 years together 23 years
£34,000 business

£120,000 equity in house
£470,000 his pension
His share of business offset against my share in house my realisable share £43,000
To raise this sum he proposed I am awarded 59.7% £264,000
Then I draw down £43,000 lump sum to make up my share of equity. I then retain £221,000 50% of the original pot . He retains 40.3%

To maximise my capital I have the option of drawing down up to 25% of my pension which would give £66,000 when added to the £34,000 capital payment of £100,000
Remaining pension pot £198,000
44% of original pot income when I’m 60 £6,930.00 per year
That is exactly what the solicitor wrote me
He keeps house which I know he wants to sell to buy with new partner but won’t sell for divorce

House equity £120k
Pension £470k
Business money £34k
Total £624k so 50/50 start would be £312k each (taking pension at full value as it can be crystallised almost instantly)
He works(so has mortgage and pension capacity) you can't.
Both of you have requirements for a 1 bed place in theory so need to establish how much it would cost you to live/buy

His proposal
Your business money £34k
House equity £60k
Pension £43k now and £100k in future
Total £237k

He retains £60k house equity and £327k pension
Total £387k
And also has ability to work and increase pension again for another decade.

Not surprised his solicitor is pushing this to you. What does your solicitor say? I know you say you have only benefits but with £624k at stake spending some time even on an initial consultation could pay massive benefits if you are being short changed by a minimum of £75k as it stands

Without knowing house prices there is an argument that you should be taking more of the equity along with the business money and a drawdown on pension to give you a property in your name outright where possible if you can never get a mortgage. Then establish what part of his pension would give you a sufficient income for now to see you through until state pension and beyond.

I'd almost be inclined to be saying you keep the house equity, he gets the business money to put a deposit down. Pension split 50/50 and you take a lump sum if need be to afford a property

Thank you my solicitor has offered no opinion I have questioned him regarding this he seems to be saying that the judge and my barrister will sort it out but I am supposed to put my reply proposal before Monday court hearing, am I right that my solicitor should have at least given me some guidance?
Yes he will easily get a mortgage, I also spoke to a financial advisor yesterday he agreed it was not a good deal regarding the pension, I was thinking that I would offer I take half the house and the business money and more of the pension, say 59.% but you’re suggestion seems better.