trying to understand the actuarial report!

stbx and I jointly have just had the pensions actuarial report. My solicitor was on leave last week so I haven't talked it through with her yet but I just keep re reading it and am trying to make sense of it - any clues would be more than welcome please.

So we are going for pension share, the gap if unshared is £658K The actuarial report is saying 30.06% share of his to mine will achieve equity of retirement earnings, but I do need to take the tax free lump sum to pay off various bills! Is this 20 or 25 % and is that from his CE which is £738K.


Thank you

Not sure what you are asking.

By the sounds of things you both have pensions?

It would seem that what the report is saying is that to equalise these out it needs 30.06% of his pension to be transferred to you.

That will then become yours and you will be able to do whatever the relevant pension laws allow you to do with it when the time comes to take it.

Are the bills you mention joint bills?

A lot depends on what the actuary was asked to work out. Was it for a pension sharing figure before or after taking the lump sum?

It is possible for the tax free lump sum to be taken first .. and for the rest to be divided between you. This only works if your ex is at an age when this can be done ie. over 55. The lump sum would then be treated as part of the cash assets.


Hadenoughnow

pension sharing is meant to equalize pensions on divorce. An actuary report is meant to give 3 examples for pension sharing. It is not definitive, but advisory, and should be taken into account with age, health, how long you have been married, sex of the person, as males usually die sooner. etc etc