Fair Settlement house or Pension

Hello Everyone

I am after some advice regarding a financial settlement that I have agreed to with my ex wife.
I have said she can take the whole proceeds of our matrimonial house valued at £340000 and for this she agreed for me to keep my Fire service pension in full.
My CETV value is less than £500000, is this a fair settlement?
Any advice would be greatly appreciated.

It is not possible to comment without a fuller picture I am afraid.

Financial settlement on divorce is about needs first - so any agreement would have to take account of your respective needs (including those of children) for housing and income now and in the future.

You cannot live in a pension, and if all the equity is needed to provide housing, it cannot be used to provide an income.,,

Other factors would also be taken into account, including ages, length of the marriage, incomes, other assets, debts etc.

Bear in mind also that the CEV of a firefighter's pension may not reflect the true value of the fund in terms of the level of benefits it would produce. These are a lot more generous than the benefits you would get from other types of pension. An actuary would be able to calculate how the pension should be divided to ensure equality of income on retirement. They would also be able to give guidance on how much cash would be needed to offset any interest in the pension.


Hadenoughnow

Thank you for the advice, it is much appreciated.