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Cash settlement ins...
 
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Cash settlement instead of pension sharing

 
(@claret26)
New Member Registered

Currently separated and at the stage of dividing assets for the divorce clean break financial order.  All been amicable so far and maintenace is being paid.

I have a pension, she doesnt.  She doesnt want a pension sharing order, but wants a cash exchange settlement instead.

I have the cash equivalent value of my pension, but this value also includes my additional contributions added since I separated.

Without going through solicitors, Im thinking it seems fair a settlement woould be based upon 50% of the current value less additional contributions, less a % (given tax would be deducted from any pension she otherwise recevied later in life, or as its cash now).

Anyone have any views from experience with the court on this etc?  Views appreciated please

Quote
Topic starter Posted : 14/11/2024 1:49 pm
(@dadmod2)
Illustrious Member

hi,

there is some advice here:

https://www.moneyhelper.org.uk/en/family-and-care/divorce-and-separation/pension-sharing#:~:text=Under%20a%20pension%20sharing%20order,i t's%20important%20to%20act%20quickly.

ReplyQuote
Posted : 14/11/2024 3:18 pm
(@passmetheball)
Active Member Registered

@claret26, ask for all contributions since separation to be ring-fenced for exclusion from final settlement figure. I did this via mediation and was accepted as a fair point. No lawyers involved, family mediation service. 

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Posted : 14/11/2024 4:43 pm
(@claret26)
New Member Registered

Thank you @DadMod2 and @PassMeTheBall.

Good to hear about post-separation contributions.  Ive also just found its also "normal and fair" to adjust for both tax (which would otherwise be applied to pension income in the future) and also for the convenience to have cash now (rather than many years in the future.

TBH in our amicable situation trying to be fair for both of us will be my approach.  Its just one part of the divorce process of course, wish it was over.

 

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Topic starter Posted : 14/11/2024 5:38 pm
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