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Ring Fencing pension

  • TAB03
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12 Nov 20 #514733 by TAB03
Topic started by TAB03
Hi all
New to here today and looking for a fair outcome to my divorce(I understand Fair doesn’t mean equal)
Here’s my history :23 marriage I’m 56yrs husband 57yrs Husband retired due to ill health in 2013
I have been a stay at home mum for most of the 23yrs apart from the odd part time job for a couple of months here and there.
We enjoyed a good standard of living ,two child one 22 in forces one 19 at university
Husband in wheelchair and I cared for him.House value at £310,000 with £36,000 left on it over 5yrs.
Husband has £43,000 per year after tax plus over £5000 in disability benefits per year .He is in The family home.took the car off me (was a mobility car but used as family car)He froze the joint bank and changed the locks in the matrimonial home.
I’m living at my sisters.It’s not amicable I’m afraid and after 10 months I’ve had to apply to court as he will not willing to start negotiations.Had FAH last week and husband has requested his pension to be ring fenced prior to our marriage when pension report is carried out.Judge agreed to have it looked at but said it wasn’t set in stone as it’s a needs based divorce.Husbands pension pot is £2020,190,00
i guess I’m just worried because he is in a wheelchair and I will come out with very little.I don’t have a pension as mine was cashed in last year for work done to our family home prior to separating. I receive from my husband £700 to live on a month and trying to find any work during COVID has been hard.
Any comments or does anyone have experience of divorce and disabled and pension ring fencing
Many thanks

  • hadenoughnow
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13 Nov 20 #514737 by hadenoughnow
Reply from hadenoughnow
In a needs based divorce settlement your respective needs for housing and income now and in the future will be the first consideration. The costs of any additional needs he has as a result of disability may well be considered as being met by specific benefits.
If you have cashed in your pension to contribute to the household that will be a factor.
The start point for division of all assets after a long marriage is 50:50. There has to be a good reason to depart from that.

If you need help understanding the process or support with paperwork etc, give the helpline a ring to see how we may be able to assist.

Hadenoughnow

  • Rickoshea
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13 Nov 20 #514738 by Rickoshea
Reply from Rickoshea
The pension value looks incorrect, do you mean £2,020,190? i.e. c. 2 million currently (which at £43k after tax is probably nearer realistic CETV).

With the potential amounts and court looming approaching a solicitor even for an initial consultation is probably your best bet to just understand the position and possible routes but as the judge has already said they see it as needs based at least that gives you a starting position to work from

  • TAB03
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13 Nov 20 #514739 by TAB03
Reply from TAB03
Thankyou your reply makes me feel less anxious

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13 Nov 20 #514740 by TAB03
Reply from TAB03
Hi
Yes it’s over two million and he wants to ring fence from 1982-1996.
I think it’s the disability issue he’s making out he’s needs are more than they are and that he needs help with daily tasks even though he stayed at our holiday home in France on his own for weeks at a time with only needing a cleaner.

  • MarcusFox
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14 Nov 20 #514754 by MarcusFox
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Hi, I wanted to ring fence pension before marriage. My solicitor told me last year that this may become problematic because of the recommendations (against ringfencing) of the recent Pensions Advisory Group report. When it came to it (a couple of months ago), my stbx's solicitor said she would not consider ringfencing because of the outcome in recent cases in the light of the PAG report, and my solicitor (who had been pretty keen on ringfencing) agreed. So we reached an agreement without going to court based on the full pensions being shared. I would think with a 23 year marriage you have a strong case for the full pensions to be taken into account.

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14 Nov 20 #514756 by TAB03
Reply from TAB03
I just want us both to be ok and hope he comes to his senses before a final hearing.
Many thanks for your reply

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