CETV for Divorce purposes

Marcon

angelinamay said:

Hi all,  I've just discovered something - I was told to enquire re a CETV (costing £1,000) but hbusband was told to obtain his end-of-year statement (costing nothing), and CETV wasn't mentioned to him!  Any adea why? I don't want to pension share, only my share of the house.  Thank you

Told by whom? Probably best to go back and ask them.

angelinamay

Marcon said:

angelinamay said:

Hi all,  I've just discovered something - I was told to enquire re a CETV (costing £1,000) but hbusband was told to obtain his end-of-year statement (costing nothing), and CETV wasn't mentioned to him!  Any adea why? I don't want to pension share, only my share of the house.  Thank you

Told by whom? Probably best to go back and ask them.

Both of us have had the initial 1 to 1 appt with the mediator Marcon. I have sent an email msg to mediators secretary, but no reply as yet!

dunstonh

angelinamay said:

Marcon said:

angelinamay said:

Hi all,  I've just discovered something - I was told to enquire re a CETV (costing £1,000) but hbusband was told to obtain his end-of-year statement (costing nothing), and CETV wasn't mentioned to him!  Any adea why? I don't want to pension share, only my share of the house.  Thank you

Told by whom? Probably best to go back and ask them.

Both of us have had the initial 1 to 1 appt with the mediator Marcon. I have sent an email msg to mediators secrety, but no reply as yet!

As said earlier in the thread, the mediator is jumping the gun.  If both parties agree to what should be split, then you don't need to worry about a pension sharing order.  If either party becomes difficult, then the costs rise.

If your husband's pension is a defined contribution and still has a fund value, then it is a lot easier as it is valued daily.

angelinamay

dunstonh said:

angelinamay said:

Marcon said:

angelinamay said:

Hi all,  I've just discovered something - I was told to enquire re a CETV (costing £1,000) but hbusband was told to obtain his end-of-year statement (costing nothing), and CETV wasn't mentioned to him!  Any adea why? I don't want to pension share, only my share of the house.  Thank you

Told by whom? Probably best to go back and ask them.

Both of us have had the initial 1 to 1 appt with the mediator Marcon. I have sent an email msg to mediators secrety, but no reply as yet!

As said earlier in the thread, the mediator is jumping the gun.  If both parties agree to what should be split, then you don't need to worry about a pension sharing order.  If either party becomes difficult, then the costs rise.

If your husband's pension is a defined contribution and still has a fund value, then it is a lot easier as it is valued daily.

Sorry to admit, but Pensions business is a bloody minefield to me.  Thanks for reply, :-)

xylophone

If your husband's pension is a defined contribution and still has a fund value, then it is a lot easier as it is valued daily.

OP said

Well I'm not interested in pension sharing, my pension isn't that much, and the husbands is a final wage pension.

Presumably DB Final Salary?

The OP says that her own pension has been in payment since 2004 when she was 50 - perhaps a DB pension taken before NRA with actuarial reduction?

Both on state and workplace pensions, his monthly totals £1413.60 and mine is £829.44. 

It appears that she and her husband were (still are unless OP has changed to TIC) joint tenants of the matrimonial home where the husband still resides and which she left some ten years ago.

He's 74, I'm 69.  The marital property is valued almost £500k, mine is valued at £145k. 

The OP also says that they are still not at the divorce stage. 

She wants 50% of the value of the marital home.

Her husband is offering 20%, presumably his savings?

angelinamay

xylophone said:

He's 74, I'm 69.  The marital property is valued almost £500k, mine is valued at £145k. 

The OP also says that they are still not at the divorce stage. 

She wants 50% of the value of the marital home.

Her husband is offering 20%, presumably his savings?

Heading towards the Divorce stage. He DOES. NOT. want to move from matraminial house. He'll try and get off with as small a payout as possible, and has fairly medieval ideas on what a wife 'should' get. He suggested mediation, so I'll go along with that.  I think the £100k is more or less his savings, yes.

Marcon

dunstonh said:

angelinamay said:

Marcon said:

angelinamay said:

Hi all,  I've just discovered something - I was told to enquire re a CETV (costing £1,000) but hbusband was told to obtain his end-of-year statement (costing nothing), and CETV wasn't mentioned to him!  Any adea why? I don't want to pension share, only my share of the house.  Thank you

Told by whom? Probably best to go back and ask them.

Both of us have had the initial 1 to 1 appt with the mediator Marcon. I have sent an email msg to mediators secrety, but no reply as yet!

As said earlier in the thread, the mediator is jumping the gun.  If both parties agree to what should be split, then you don't need to worry about a pension sharing order.  If either party becomes difficult, then the costs rise.

If your husband's pension is a defined contribution and still has a fund value, then it is a lot easier as it is valued daily.

I think the mediator has probably come across pensions and divorce before, and recognises how many women in particular miss out because the value of the husband's pension is dismissed without investigation. I wonder if OP is simply being strung along by her husband, in an attempt to fudge the value of his DB pension? It'll be interesting to know if the mediator confirms what he claims to have been told about whether or not a CETV is needed. 

Alternatively, the mediator hasn't come across pensions and divorce and fondly believes that a copy of the husband's latest statement (sounds as if he's still actively building up benefits in his scheme rather than drawing benefits from it already, or he wouldn't be getting an annual statement. OP, do you know if that's the case?) is going to be enough. Not sure I'd go along with that, especially if he's been in his scheme for some considerable time.

Pat38493

If your husband has a DB pension and is saying that he doesn't need to provide a CETV, that is nonsense.

If you want to get a divorce and finalize everything with a final order (no further financial comeback), I would assume that eventually you will need a solicitor, and I suspect your solicitor will strongly advise you to insist on a divorce level CETV valuation of all pensions involved in the split.

In fact I'm not even sure the divorce will be granted by the court without that even if you say you are ok to accept it.

DB pensions can be worth an awful lot of money, sometimes more than the house in a real terms valuation.

Also - your husband giving you £100K or whatever will have no effect on anything else - he will still have to pay you all the rest of what you are entitled to later if it's a lot more and it goes to divorce stage.

angelinamay

I think the mediator has probably come across pensions and divorce before, and recognises how many women in particular miss out because the value of the husband's pension is dismissed without investigation. I wonder if OP is simply being strung along by her husband, in an attempt to fudge the value of his DB pension? It'll be interesting to know if the mediator confirms what he claims to have been told about whether or not a CETV is needed. 

Alternatively, the mediator hasn't come across pensions and divorce and fondly believes that a copy of the husband's latest statement (sounds as if he's still actively building up benefits in his scheme rather than drawing benefits from it already, or he wouldn't be getting an annual statement. OP, do you know if that's the case?) is going to be enough. Not sure I'd go along with that, especially if he's been in his scheme for some considerable time.

Ah.  Bit of information!  I've just called pensions at last employer.  I WILL be receiving a yearly statement as will husband, and I HAVE got a final salary pension which, if mediator asked husband only for that statement, then I think the statement I receive should also be acceptable.

angelinamay

I think the mediator has probably come across pensions and divorce before, and recognises how many women in particular miss out because the value of the husband's pension is dismissed without investigation. I wonder if OP is simply being strung along by her husband, in an attempt to fudge the value of his DB pension? It'll be interesting to know if the mediator confirms what he claims to have been told about whether or not a CETV is needed. 

Alternatively, the mediator hasn't come across pensions and divorce and fondly believes that a copy of the husband's latest statement (sounds as if he's still actively building up benefits in his scheme rather than drawing benefits from it already, or he wouldn't be getting an annual statement. OP, do you know if that's the case?) is going to be enough. Not sure I'd go along with that, especially if he's been in his scheme for some considerable time.

Hi,  we BOTH have final salary pensions, we could both be dead before finalising anything, I'm not interested in pension sharing, but need to move :-) I understand what you're saying though Pat, and thank you for your input.  They're all valuable to me. The mediator isn't much younger than I am, I would have thought she's seen it all before.  :-)