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Actuary Report Confusion

  • Hope15
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03 Apr 24 - 03 Apr 24 #522833 by Hope15
Topic started by Hope15
Hi,
total newbie here..
desperately trying to divorce my ex husband but after receiving an actuary report last week with assumptions on my CETV I am at a loss on where to go next.

I have a teachers pension, he has a private pension from an older job and a smaller more recent pension from newer job.

Separated in 2021, only £150k equity left from house, he has finally agreed after 2 years of battle to split this 50/50 but now says he ONLY wants what the actuary report says.

Actuary report company couldn't get hold of a newer teacher pension CETV for me due to backlog, so have had to use an 'estimation', this has seen it rise from CETV of 89k (22) to now £170k?!?! I'm baffled. (15years service) report gives a few options, all of which look like 5-7k of my pension moving to him per annum? (What does this mean? Per annum from when pension began?? Not a clue?!) but none seem clear enough and all based on what I think is a massively exaggerated CETV?!

meanwhile his two pensions total £64k

incomes are similar these days - both with similar opportunities to progress

Two Children - although he only sees once a fortnight, but still argues his house needs are the same as mine, I now rent (and have done since 2021 and paid 50% for him to stay in the family home as I chose to leave)

married 6 years, cohabited 5 years prior to marriage

Both late 30s so have years ahead of us to rebuild pension.

he chose not to pay into a big pension when he was private as he is set to inherit ALOT one day from family.

I have never asked for more than 50% of equity and for our joint debts to be cleared. But it seems now he can take a big wedge out of my pension or it gets offset from my share of equity.

The report does not mention marital / separation dates (but in now realising this is Scotland only?) or even considers the pension break he took to retrain.

Anyone have any advice on what to do next? Already 10k in solicitor fees. And exhausted.





Last edit: 03 Apr 24 by Hope15. Reason: Too personal

  • hadenoughnow
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06 Apr 24 #522844 by hadenoughnow
Reply from hadenoughnow
The actuary will provide calculations based on the joint letter of instruction they received when the report was commissioned. It is up to you to make the case for a particular outcome. The usual approach is to work out how to equalise incomes in retirement. I imagine the actuary has used accepted methods to work out the CETV. It is worth checking with TPS if you can get one now. A lot of public sector schemes were affected last year by the McLeod judgment.
My question would be whether 50:50 on the FMH is fair, especially if you have the majority of care for the children. Can you buy another property with your share? If you cannot, the whole thing may need reconsidering. The fact that you left is irrelevant; financial settlement on divorce is based on needs and the means you have between you to meet them. We'd need to know more about your situation to be able to advise effectively.

Hadenoughnow

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