I have no pension, parrtner does ..... drawing up an agreement etc.

edited 30 November -1 at 1:00AM in Pensions, Annuities & Retirement Planning
2 replies 565 views
NannyVNannyV Forumite
129 Posts
Hi everyone, me and my partner are not going to seperate, but I am thinking of the ifs and buts!
Hehas a pension where he pays £60 a month, his company pays some and the goverment do so its paying £150 a month in total and so far he has a total of £8k.
I have nothing, I am currently on maternity leave but when I return to work I need to start setting money aside for a pension.
I want to draw up a legal document saying that if we seperate, I should revieve the first £8000.00 from our house proceeds before splitting the rest 50/50, this will then mean I have the same pension amount as my oh currently has. And then I will try to put £150 a month into a pension/saving account or paid into the mortgage .... havent figured out which is the best option yet.
So therefore our pensions are equal - I think my oh will be happy to set this agreement up, will discuss it tonight.

Anyhow - how much does this sort of legal agreement cost, and is the way Im doing it the best way, and does it make sense?
Any other advice regarding where to put the £150 a month is also appreciated.

PS - I am 24, oh is 26, I earn about £14k a year, other half about £30k - he pays all the bills, I look after our son and also work, and put any spare money into savings that are 50/50 ours

Replies

  • PeePee Forumite
    3.8K Posts
    A solicitor will be able to draw up a Declaration of Trust for you, which could cover what you suggest as long as you both agree. I'd have thought £250 plus VAT, depending on how complicated you want to make it.

    If I was your partner, I wouldn't agree to it, though.
  • NannyVNannyV Forumite
    129 Posts
    Pee wrote: »
    A solicitor will be able to draw up a Declaration of Trust for you, which could cover what you suggest as long as you both agree. I'd have thought £250 plus VAT, depending on how complicated you want to make it.

    If I was your partner, I wouldn't agree to it, though.

    But my partner is under the thumb:D

    Joking apart - we have always said we'd split everything and Ive said that my pension so far is part of our savings - as I havent had chance to set one up.
    I Childmind so our son takes one of my paid places - so technically I am taking a pay drop instead of paying for childcare, so really I should be on about £20k minus childcare etc. so although he pays alot more than me financially - I work and have our son day and night and look after the house, so I should be worth £30 + grand a year;) so therefore I see finances 50/50 and hope he agree's.

    Will see tonight from our conversation
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