Independent Financial Advisers

• HOME
• WHAT WE DO
• RESOURCES
• CONTACT US
• COMMUNITY

Pensions on Divorce

Many couples find that they can agree the general principles on divorce or the cessation of a civil partnership, but then struggle with a financial settlement. In this situation it is important to establish what 100% of the asset value actually is, and that is the starting point for a qualified and experienced financial planner.

Dominic Spalding is a Resolution accredited IFA for pensions and divorce having completed the Resolution IFA training in 2007. He also holds the advanced financial planning certificate ‘G60’ pension qualification and its replacement the advanced diploma in financial planning ‘AF3’ qualification. He is a Chartered Financial Planner and pension transfer specialist.

Please direct all enquiries to Dominic by email to info@expertfs.co.uk . An initial meeting to discuss your requirements is available free of charge and without obligation to proceed.

Disclosure of financial assets is done by completion and exchange of Form E and supporting documents.

Expert Financial Solutions Ltd offers the following financial planning services for divorce settlements: -

• Assistance with Form E disclosure - obtaining information relating to existing pension & investment plans, providing current valuation and explanation of technical factors.
• An audit of your former partner’s Form E and other documents to produce an ‘errors and inconsistencies’ report.
• Advice on how you may reach a suitable financial settlement.
• We can explain and demonstrate graphically the consequences of a proposed settlement through lifetime cash flow forecasting.

It is estimated that two thirds of financial settlements on divorce involve pension benefits. Expert Financial Solutions Ltd can: -

• Explain the technical terms and legal situation regarding pension benefits on divorce so that you understand how and why they should be included in the financial settlement and the consequences of doing so.
• Explain how pension assets are valued for divorce and the importance of identifying policy features such as market value reductions on with profit pension funds, guaranteed annuity rates, and protected rights.
• Identify if you should obtain an alternative actuarial valuation for final salary (defined benefit) pension schemes and how this would be included in the financial settlement for the divorce.
• Help you achieve equality of outcome in retirement from a settlement involving pension benefits.
• Investigate and report to you regarding the options available for dealing with pension credit rights on divorce.
• Report to you on whether offsetting, attachment, or pension sharing is suitable for your circumstances and investment risk profile.
• Advise on the importance of State pension benefits, obtain a valuation of SERPS / S2P, and arrange a state retirement forecast for those retiring after 2010.
• Advise and report to you on the most suitable option for dealing with pension credit rights resulting from a pension sharing order on divorce from the options of internal or external transfer or the trustees default option.
• Help with the wording used in attachment and sharing orders to ensure that it reflects the agreed intention and that the pension scheme administrator can act upon it.
• Explain what to do when you are given a pension sharing order following the decree absolute.
• Provide independent pension and investment advice and arrange the implementation of pension sharing orders.

July 2008.