Army pension

Asram,

You as I are confused. Yes she is getting 100%. I haven't found out of what yet as my solicitor says the sealed order could be construed either way. i.e 100%of CEV or 100% or actual value. SO None the wiser until its implememted, with me so far.

She proved in a one sided actuarial report not agreed to by me that if I served till 22yrs then I would receive over 220k in benfits before she caught me up at 60. I'm 39, she is, 4"£& (never reveal a womans age in puiblic)So in a nutshell she says hand over 90k to equalise the pensions. She only had a pension of 3k as she never worked. Trouble is I only had 87k in my CETV so she took the lot. and I wrote her a cheque for the rest. Isd that clear enough?

Now I am told after i signed that I have been misled. i should not have signed for various reasons. I don't know what effect that has on my pension, it will go ahead. I have to wait and see the outcome of the debit against me.

Mate,
I was confused, now I understand....and I think if you are correct in what you are saying then you have been Royally shafted! But if you are REME then you will be used to it

Seriously though, did you take proper advice before signing?

Sir Remealot

You say your ex wife has now remarried. But from what I have read, the pension sharing order - although it has been made by the court - has not been implemented.

I wonder if that makes any difference to your situation?

Hadenoughnow

marriage makes no difference. I signed it before that. divorced jan 09. As for advice , my solicitor advised in writing to sign it, drafted it, told me to sign it. The only thing I didn't do is sign it in front of her but it says exactly the same thing as she wrote it out by hand previously. The only reason I sacked her was becasue the costs were rising and she wasn't doing anything for her money. We had agreed (under constant pressure) so a signature was all that that was required.

The only reason I consulted another solicitor was when they asked me to resign it cos they had messed it up and asked for an external transfer and they couldn't have one. haven't signed anything since. One of my hopes was that they couldn't process the paperwork cos it was wrong but guess what? -the forces pension will go ahead as they say we know what she meant. and she can't have an external transfer. but as we all know external and internal transfers are worked out differently so don't know where i stand with that either?

Messy? You bet

Morning sir remealot - I'm struggling to get the picture: even after 2 coffees it's driving me nuts.
the pension scheme's own CETV was £87k.
the actuarial valuation came out at £220k.
We're getting used to the idea that even calculated on the same day the actuarial/"real" value of the benefits will be much bigger than the scheme's own transfer-out offer/CETV.
Is there a date attached to that actuarial valuation of £220k- ie is it done for the same day as the CETV?

morning maggie,

I'm understanding it totally but never really heartedly agreeing with it until my sol says I have no choice and voila here we are.

I think it was 87k ish CETV

The valuation actuarially was based on me recieving lumps sums at 22 yrs plus a yearly pension of around 11K maybe I think. Al;l added up to 230K util I was 55.

So if you roughly halve 230k minus a little bit cos I was only married for 16yrs it comes out at 90k. I only had 87K in the pot so far so she took it all. PLus i paid her the rest by cheque.

I know its like getting robbed and then asking for a tax receipt as well but thats what was advised.


I hope you can eat some more doughnuts and drink coffee easier now maggie.

maggie wrote:

"The basic facts regarding the pension rights were these. Sergeant Logan was in the armed forces and was due to retire, as is the standard practice in the army, on his 40th birthday in November 2001, which is what he duly did. A value was obtained, from the scheme, of the pension rights on the date of separation, in September 1999, of just under £45,000. This value was based on the unlikely presumption that Sergeant Logan would have left the Armed Forces Pension Scheme (AFPS) at the date of separation. Had he done so, his pension rights would have been payable from age 60 in terms of the rules of the Scheme.
An independent valuation of his pension rights showed that the true value of his pension rights, on the realistic assumption that his pension rights would be payable from age 40, was just under £112,000."

Sadly for Mrs Logan Scottish law didn't recognize any valuation other than the CETV produced by the AFPS - luckily English/Welsh law does.

Can I ask why is it a realistic assumption that this person will do 22yrs and thats what the pension rights would be based on when People are clearing saying that it is the value of the pension at that point in time not the future?

He has to do 22yrs to make this figure a good figure surely? otherwise its 45k and he has to wait unitl 60yrs before he sees anything? The true value is only a true value if you complete your service. even then its called resettlement grant and monthly pension.

So what's going on then, which one do we beleive? I need clear direction if I'm going to battle it out in court with a solicitor.