Divorce and pension asset advice please?
fluffpot
Posts: 1,264 Forumite
Hello everyone
A close friend is going through a rough divorce (kids involved etc) and her soon to be ex is not providing much info on his pensions. She has statements for two small pots. The statements say
"This statement is for your Formerly Protected Rights pension pot only. You will receive a separate statements for your Non Protected Rights pension pot"
Am I right in thinking that the statements she has are for SERPs only? (which is why they are small) and the larger employers pension is the one referred to as Non Protected Rights? (statements not provided for these of course).
Or is this just standard wording for a statement - and there might not be any other statement (ie you could contract out, but not have another personal pension)
She has evidence he was paying a substantial sum each month into the employers pension.
Just trying to make sure she has all the info she's supposed to and the terminology is correct.
Thanks in advance. Posting also in the pension section in case that's a better place
Fluff
A close friend is going through a rough divorce (kids involved etc) and her soon to be ex is not providing much info on his pensions. She has statements for two small pots. The statements say
"This statement is for your Formerly Protected Rights pension pot only. You will receive a separate statements for your Non Protected Rights pension pot"
Am I right in thinking that the statements she has are for SERPs only? (which is why they are small) and the larger employers pension is the one referred to as Non Protected Rights? (statements not provided for these of course).
Or is this just standard wording for a statement - and there might not be any other statement (ie you could contract out, but not have another personal pension)
She has evidence he was paying a substantial sum each month into the employers pension.
Just trying to make sure she has all the info she's supposed to and the terminology is correct.
Thanks in advance. Posting also in the pension section in case that's a better place
Fluff
0
Comments
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It doesn't really matter, she needs to see the other statements as well before she can make any kid of informed decision.
Since it says that he will receive a separate statement, it strongly suggests he has a separate pot, but if not, he needs to get a letter from the pension provider confirming that he holds no other funds with them.All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0 -
Hello there
Thanks for taking the time to reply.
Next hearing is final hearing, but good idea about asking for a letter since requests for the statements have fallen on deaf ears!
Fluff0 -
Pension grabbers....gotta love 'em.
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username12345678 wrote: »Pension grabbers....gotta love 'em.
An unsurprising comment coming from you. However, whether you like it or not marital assets are just that. They do not belong to one person and nor do the offspring and the care of them in the future.
Love it or hate it, it doesn’t matter it’s the law as it stands :beer:0 -
An unsurprising comment coming from you. However, whether you like it or not marital assets are just that. They do not belong to one person and nor do the offspring and the care of them in the future.
Love it or hate it, it doesn’t matter it’s the law as it stands :beer:
You'll be a pension grabber then, 0 -
username12345678 wrote: »You'll be a pension grabber then,
No need, have more an enough!:T0 -
Wouldn’t he have declared all his assets on his form E or similar?
You would normally declare assets with statements as evidence for the court/opposite side.
If she knows where the payments were being made she could request via solicitor his permission to contact the pension company for more details herself.
During my divorce the court didn’t value pensions at the true value compared to house equity etc as they were so far from being able to be accessed.
A lot of what I read on here in the past didn’t seem to apply and a lot seems to be at the discretion of the judge.0 -
does she have a solicitor? If someone hasn't provided proper disclosure then the court can be asked to drawn inferences, for example, they could chose to make orders splitting all pensions, and making a direction for a pension company to release information based on a form of authority signed by a judge rather than the pension holder, if the correct application is made. Alternatively, she could ask the court to make an order giving her higher proportions of the other assets on the basis that there is evidence that he has not provided full disclosure of the pension assets.All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0
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