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Is it worth asking for an actuary value not CETV?

  • Blue88
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17 Mar 18 #500230 by Blue88
Topic started by Blue88
My stbxh currently has a pension with a CETV of around £300k, is it worth asking for an Actuary valuation?

He is 51, (I am 43).
He joined the army at 18, when he started the pension, he left the army after 10 years and then worked for the Home Office until May 2016.
He transferred his army pension & continued it whilst he worked for the Home Office.
Since June 2016 he has worked for a private company and started a new private pension scheme with them.

I don't know what age he can claim his pension.

This is his main asset and I would like to offset it against my 1/3 share of my family business, (Private Ltd Co), in my opinion the items would basically cancel each other out. If he attempts to pursue my business interest I would have no choice but to try and demonstrate his assets are higher than listed in his form E.

I don't have any experience with pensions so looking for some simple advice!

  • hadenoughnow
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19 Mar 18 #500281 by hadenoughnow
Reply from hadenoughnow
He has two different types of pension. The army/civil service on is likely to be quite valuable. These pensions are often described as gold plated because of the benefits that come with them. The CEV can be much less than the actual value of the pension and benefits. The private pension is likely to be defined contribution so worth the same as CEV.

How the pensions are divided can depend on things like the length of marriage and whether one party, for example, needs cash now more than future income. This may be because of the need to house children.

An actuary can look at various scenarios to help you work out what could be fair. This may include the value of the pension accrued before and after marriage, the value for offsetting purposes etc.

If you cannot agree the finances and end up in the court process, the judge may well order an actuary's report with you giving jointly agreed instructions and sharing the cost.

Hadenoughnow

  • Blue88
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19 Mar 18 #500287 by Blue88
Reply from Blue88
Thanks, that's really helpful.
I understand I might not have much entitlement to it & would rather not take any of it, but it helps to know what my options are.

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