Separation Agreement and Pension

AskAsk

We are looking to apply for a consent order but there is now a delay with getting a CETV from the Teacher Pension Scheme, so we are thinking about getting a separation agreement as that could allow me to buy my husband out of our home and he can go and buy a new house.

Has anyone had experience or have knowledge of a separaration agreement?  Does that require the CETV of pension?

Brie

Vague knowledge only, no personal experience, so this may be stating the obvious.

You need to know how much assets both your and the OH have so you know where to split them in half.  

Easy enough to say the house is split 50/50 but if you have a pension valued at £100k and husband's is £500k you need to have a way of getting that extra £200k so that you each have a £300k value.  

Of course there's also the bank accounts, ISAs, any other pensions, big value cars, jewellery, paintings etc. 

AskAsk

Brie said:

Vague knowledge only, no personal experience, so this may be stating the obvious.

You need to know how much assets both your and the OH have so you know where to split them in half.  

Easy enough to say the house is split 50/50 but if you have a pension valued at £100k and husband's is £500k you need to have a way of getting that extra £200k so that you each have a £300k value.  

Of course there's also the bank accounts, ISAs, any other pensions, big value cars, jewellery, paintings etc. 

we sort of know how much the pension is worth as a rough estimate but not the CETV, and in our case, it should be simple as we keep separate assets and so we are planning to do this for the separation agreement.  Except the buyout of the marital home.

for the consent order, you need the CETV as an estimate is not good enough.

frostiecuk

Yes it does.

AskAsk

frostiecuk said:

Yes it does.

I asked the company that I have instructed to apply for the consent order and they said we would need to have a value for the pension similar to a consent order.  So yes, it does appear so