Separated, how much should I provide?

JackRS

Any one have or know about cash equivalent sum for pension?

My solicitor suggested that the cash equivalent sum of a pension now is roughly one third. She mentioned that actuaries would calculate this. Just wondered if there is anyone with knowledge experience on this?

Got mediation tomorrow afternoon and wanted to know if it was a reasonable consideration. I’d like to know how much cash now I’d need to pay her to keep my pension. It’s basically combined pension value divide by 2, less the value of her pension. The remainder is divide by 2, see example:

Person A transfer value = £100K

Person B transfer value = £20K

A+ B= £120K

Half : 120/2 =£60K (each)

Person B share of persons A pension = 60-20 =£40K

Cash equivalent now payment to Person B so Person A keeps pension 100% = 40/3 =£13.3K

Gigervamp

Sorry, can't help with that I'm afraid. I didn't take any of my ex's pension when we divorced.

JackRS

Gigervamp wrote: »

Sorry, can't help with that I'm afraid. I didn't take any of my ex's pension when we divorced.

How did that happen then wht was the logic there, did you agree to have more of the house or were you earning at a reasonable level and closer to his income anyway?

Gigervamp

We were only together for 6 years and there was no house as we'd been renting. When we were together, for some of that time I wasn't earning, then I worked as a childminder.

I just didn't want any of his money. He paid maintenance every month for our two children and that was all I wanted. So when the papers came through, I signed that I didn't want a share of his pension.

It's a moot point now anyway, as I have terminal cancer, so won't be reaching pension age.

JackRS

Gigervamp wrote: »

We were only together for 6 years and there was no house as we'd been renting. When we were together, for some of that time I wasn't earning, then I worked as a childminder.

I just didn't want any of his money. He paid maintenance every month for our two children and that was all I wanted. So when the papers came through, I signed that I didn't want a share of his pension.

It's a moot point now anyway, as I have terminal cancer, so won't be reaching pension age.

Oh wow, so sorry, puts all my silly problems into perspective, thank you for your support, my thoughts are with you.

Gigervamp

Thanks Jack. But your problems are not silly and they're affecting your life, so don't feel bad about that.

RAS

JackRS wrote: »

puts all my silly problems into perspective.

Actually rather puts your ex's situation into perspective.

Mojisola

RAS wrote: »

Actually rather puts your ex's situation into perspective.

That's true.

Jack - She's not happy with the marriage break-up and having to cope on her own but what would she have done if you'd died and the money tap had been turned off permanently?

duchy

Cashed in the life insurance presumably

JackRS

duchy wrote: »

Cashed in the life insurance presumably

Don't have any....