Sometimes you will not know the Cash Equivalent Value (CEV) of you or your spouse’s pensions. We need to have an indication of the value of your pensions to be able to provide you with a sensible fee estimate. You can use the following as a broad guide to the values of a pension when … Continue Reading
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Active, Deferred or Pensioner?
If you are a member of an occupational pension scheme providing defined benefits then, when you generate your data collection letters, you need to ensure that you send the correct letter. An active member is a member who continues to build up pension benefits in the scheme. You will still be employed by the employer … Continue Reading
Why do I need an updated Cash Equivalent Value (CEV)?
Solicitors and clients will sometimes instruct Collins Pension Actuaries and provide Cash Equivalent Values (CEVs) for pensions which are coming up to or are more than one year old. In these instances it will be necessary to request the parties provide an updated CEV. The reason for this is straightforward and relates to when a … Continue Reading
Why should I have a Pension Sharing Report?
It is understandable at a time of distress and financial difficulty to question whether such a Pension Sharing Report is worth the extra cost within the divorce process. Our response to this would be severalfold. Firstly, it should not be an extra cost, it should really be one of the first costs in a divorce. … Continue Reading
Benefits of you collecting your pension data?
The main reason Collins Pension Actuaries asks parties to gather pension information is that ultimately it is a quicker means of obtaining a Report. The Provision of Information Regulations governing what pension information should be supplied in a divorce case is narrow and open to different interpretations. Those regulations were not designed with the author … Continue Reading
When to request a CEV
Collins Pension Actuaries requires as up to date as possible Cash Equivalent Transfer Values (CEV) for your pensions in order to provide accurate Pension Sharing illustrations. However, it is often the case that we are provided with CEVs which are more than a year old and which will ultimately require updating because Pension Sharing Reports … Continue Reading
Form E or not Form E
One of the great ironies of divorce legislation is that Form E – the document required to be completed if either party applies to court about financial matters arising from a divorce – is virtually worthless when it comes to Pension Sharing Reports. The information provided in Form E is simply not sufficient for the … Continue Reading
Timescales
For many divorcing couples the decision to request a Pension Sharing Report comes some way through an already lengthy and stressful divorce process. With costly imminent Court Hearing dates, one of the first questions solicitors and clients ask Collins Pension Actuaries is in respect of timescales. In short, how long will it take to prepare … Continue Reading