Percentage of pension

Hi please can anyone help!
So very close now to settlement, had two hearings and don't want to go to the final.

We have agreed everything, however my ex Is agreeing
To everything, subject to the following

All his pensions added together.
(He has one in payment worth 250k) he draws monthly income .
1 worth 6k, that is frozen , and one about 5k that he is still paying into
Then that figure divided by 2

So 250k
Plus 6k
Plus. 5k (he's still paying into this)
=. 261k
/: 2
=. 135,500k
- my. 12k
=. 123'500

Then wants this worked as a percentage of his pension in payment

I just can't get my head round it, havnt been able to discuss this one
Thing, havnt been able to speak to solicitor


Then wants my 12k frozen pension to be deducted and that figure
Be deducted from his 250k Pension in payment (the 250k one)

We can't afford an an actuary and to get this far, I've spent
8k and so has he! He has been obstructive supplying disclosure,
Two different judges warned him about his secretive financial behaviour
And not supplying proof.
And said he would come worse off.

I'm not askiing anyone to forecast me an income. Just wether it sounds right?

But if anyone is out there who is already drawing an income on similar ,
I'm 60 he is 61 he drew a lump sum about 6 years ago from the larger pension, and gets 7k a year, although he is higher tax payer .
Don't know how that affects me.

Any thoughts anyone.
I've also tried several IPA's, and they can only advise what to do with money when I settle.

Just want it all finished it's taken from September
Sat year till now to get to this point.

Sorry I'm not good at explaining

Ex adamant about Clean Break, which is what i have said, but he has specifically, said clean break, and then
Says NOT agreed
There should be a clean break for all forms of financial remedy including capital claims /orders, income claim s/orders, and clAim orders on death, neither party should be entitled to make any further application in relation to the marriage at all.

We just added ex's pensions together to give a total, divided the total in half and worked out the percentage of the largest pension needed to give me that amount. We just used CET values and weren't concerned with income etc. I kept the house and will get 26% of his main pension (its all signed and in process but the administrators are very slow). Ex kept his 2 small pensions and 74% of his main pension. The advantage of this is that we saved money on reports and legal advice and only have to pay one pension share fee also we were both happy with the agreement because we got what we most wanted.

Not all pensions are created equal.

You may as well ignore the smaller pensions as you each have similar small pensions. The £250k is the key issue here.

I would have thought a specialist solicitor would be able to advise you upon your options in relation to the pension in payment. What advice have you received so far?

Charles

Thanks clawed

Charles,
My solicitor originally wanted me to get an actuary report, but I just couldn't afford it, Ive used all but a several k of my savings.
And still have legal fees to pay out.

I just feel that some how I'm being conned, solicitor says
It won't be equal in terms of income as women live longer.

He or Iginally only wanted to give me 10 per cent but the judge told him
He was much mistaken if he thought he could do that as the law stipulates half, especially as we are in a long marriage of 39 years.

I appreciate I cannot have the life style I had, but I suffer I
Health anyway, so going on holidays will be out of the question.

I just do t u derstand the logic, every penny counts to me,
I'm not having SM, I am getting the house, but when I've bought another
Even though smaller there will only be about 40k left.
He is keeping the Spanish house and we have a clean break

Solicitor wrote to his saying the pensions be added together etc like he is saying, but that itne percentage split be in my favour.

He is saying that he agrees to a Consent Order but percentages need to be worked out, so hasn't agreed as far as I'm concerned.

I have a tephone a
Point entirely with my solicitor in the morning,
When I say I need every penny, I don't mean so I can buy anything
New etc I will be living month to month.

Any further comments or pointers Charles ? Or anyone

Historically when an actuary gets involved to calculate a pension split the fact that a woman has a greater life expectancy has often meant that they got a slightly greater proportion of the pension.

However with the advent of the pension freedoms this has fallen out of favour - the logic being that you wouldn't award a greater share of a house or savings account to the female for that reason, so why do it for a pension?

I agree with others, his small pensions and your pension pretty much net off, so can be ignored. I think you should push for 50% of the larger pension, though if you have accepted a greater share of other assets then I would expect the pension share to be lower than this.

Hi W,
Great and valuable words of advice,,more like Golden words,
Thanks,
NB)