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Actuary?

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capa

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Has anyone had the need for an actuary on their pension? If so, is it worth requesting one and approx how much did it cost and how long for the report to be produced. Its something I may have to consider going forward once the first hearing has been concluded.
 
It's something I'm really trying to avoid,however as I have a DB pension north of 100k,and stbx's is virtually non existent,it may be called upon if stbx pushes to keep the house and thus no pension off setting, which I belive will result in a pension sharing order.
 
I'm in a similar situation. Not had a PODE yet, but both mine and stbx's solicitors think it will take 3 to 4 months and cost £2-£3k. Stbx has been doing everything she can to drag out proceedings and it is inevitable she will request a PODE, but she's stalling for as long as possible. I have tried to speed things up by asking my solicitor to request a PODE, but bizarrely they have said they can't do that, it has to come from the other side. I sometimes wonder if my solicitor is dragging things out for their own financial gain. However, apparently it is down to a judge to decide if a PODE is to be used, if there is not agreement, and that's not always a given.
 
It's a situation I may face in the next few months. Has it been requested as a joint PODE?

MY STBX is stalling already , no form e submitted so looks like heading g for an adjournment on first hearing, another attempt to drag things out so she can live rent free for a few more months
 
Mine was a directions from fhdra that if agreement not reached a PODE would be used. Don't know why the judge didn't just order one in the first place. You may have grounds for costs if other party has not submitted form E in a timely manner resulting in adjournment, providing you can demonstrate you were ready to go.
 
@Dirge Could I ask approx how much was the Pode and was it a joint request?

Yes I can clearly demonstrate everyring is ready to go bundled and hyperlinked and evidence of non communicative stbx
 
Not had the PODE yet so costs are estimates from solicitors. Stbx wants one but she is stalling by not going ahead and formally requesting one.
 
Dirge said:
Not had the PODE yet so costs are estimates from solicitors. Stbx wants one but she is stalling by not going ahead and formally requesting one.
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I'm sure the leading party has to submit 3 possibly PODE'S and the other side then has to nominate then the leading g party has to agree and if its a joint request costs are split
 
Hi capa I have a DB pension scheme and had to get a CETV (cash equivalent transfer value ) your company pension scheme should provide that for free, no need for the expense of an actuary... The CETV was accepted in my case.
 
My CETV has been submitted, yet the one thing I need clarity on is will pension be counted from cohabitation until separation and the year prior dismissed as it was earned before we met, hence will a PODE be necessary to determine that new amount? For the record mi e is a DB pension.
 
Normally CETVs are provided free of charge, unless you are within a year of retirement age, or you've had a CETV and request another within 12 months. An actuary is required if there is no agreement, and judge directs one. Pensions/assets accrued before marriage/cohabitation would be classed as "non matrimonial". However, judges have the power to call them into play if they consider there are not enough assets otherwise. Each case is different, depends on size of both parties pension pots, earning power, mortgage raising abilities etc. PODE maybe required to determine how much of your pension is needed to provide for ex's needs. It sucks, but there is no definitive answer. Judges have a lot of power.
 
capa said:
My CETV has been submitted, yet the one thing I need clarity on is will pension be counted from cohabitation until separation and the year prior dismissed as it was earned before we met, hence will a PODE be necessary to determine that new amount? For the record mi e is a DB pension.
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All I can say from my experience is the judge looked at my ex's pension pot and my pot. Added the 2 together and split it down the middle. No allowances were made for the fact that my ex spent all her money on travel without having a pension in her first 10 years of employment. Hopefully you get a judge who can see the bigger picture...
 
See that is one thing I'm cautious of cos the ex only started her pension when it was required so I'm sure there's 2-4 years missing where she didn't want to put into a pension
 
Yes, that's exactly what they do look at, the bigger picture. Judges are not interested in who worked hard, saved for the future, did the right thing, paid the mortgage and bills, accrued assets before relationship started. They look at the assets they see Infront of them and divvy them up as they see fit. If there is a big disparity between one parties assets and the others, don't expect any sense of fairness.
 
I am ready to concede, cos that Is Inevitable , and have the contingency for all scenarios I can think off, so for me it's not going to come as a surprise. The ex will think she has won will look like it but in the end Ive done my due diligence and know how I will stand after
 
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