£25 Actuarial Report values a defined benefit scheme. It takes only 10 minutes online and gives you a 5-page report signed off by an accreted actuary click here
Pension values 30% greater than the CETV.
On divorce find out if the provider quote values the pensions fairly. Start here by comparing some valuation examples
Pension
audit results
Where a case is complex and includes a final
salary pension, the pension
audit will start with the cash equivalent
transfer value (CETV)
from the provider as the basis of the calculation.
From the valuation procedure, it is possible to
determine a suitably adjusted
CETV that will reflect the fair value of the
pension arrangements based on the specific circumstances
and needs of the parties.
The valuations
can consider many aspects of the pension such as
past service reserve, death in service benefits
and future career prospects that are not considered
by the CETV
Method.
The individuals that will benefit most from a pension
audit will be those where their spouse is a member
of a final salary pension or a public service scheme
such as civil service, NHS, teachers, police, fire
services, armed forces but especially if they have
been in public service all their working life, and
in particluar are now aged 45 or over. If if this
individual is also 4 or more years younger than
their spouse, they are likely to be a particular
beneficiary of a pension audit.
The following table summarises the findings from
recent cases of UK pensions on divorce. These cases
were rated A (significant) from the audit
rating table and the value added by the pension
audit report.
During ancillary
relief proceedings the adjusted CETV can
be used by the former spouse and their solicitor
as part of the negotiation process. The solicitor
can produce a Calderbank
letter as the step-by-step
guide shows, making an offer to the
other party and include the adjusted value.
The percentage agreed may not be a 50/50 share of
the pension arrangement but it will include the
value added by the audit, thereby resulting in a
significant gain for the former spouse and help
the solicitor achieve the best possible result for
the client.
Disclaimer:
Information found on this site does not amount to financial advice or
legal advice. Every time you access the website you agree to be bound
by the Terms and Conditions.
If you do not agree to be bound by them, you should not use the sharingpensions.co.uk
website. Before taking any action regarding pensions, pension on divorce
or any other financial or legal matter you should seek professional
advice.
