Posted December 20th, 2010
When appointing an expert on pension sharing matters it is always worth looking at whether the report you will receive is from an authorised source or not.
For pension sharing reports I always work in conjunction with an actuary as I always feel comforted by the fact that the actuarial assumptions being used are sensible, well thought out and take account of future changes, in for example, annuity rates and life expectancy. And if I have a problem I have recourse to the Institute of Actuaries.
So my advice when appointing is to check the credentials of who will be doing the report, what assumptions they will use and what recourse you have if things go wrong.
If this affects you or you are looking to instruct an pension expert – please contact me on 0800 092 1220 or send me an email – phil@thedivorceifa.co.uk
Tags: Actuarial Assumptions, Actuary, Annuity rates, Authorised, Expert, Expert on Pension Sharing, Life expectancy, Pension, Pension Expert, Pension Sharing, Pension Sharing Reports | Posted in Pension Sharing |
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Posted August 9th, 2010
An issue to be aware of when considering ill health in divorce matters, is its potential impact on pension asset values.
It can reasonably be argued that based on longevity a pension asset in the hands of someone with a shorter life expectancy has less value than it would in the possession of someone with an average life expectancy. It is anticipated that the pension income will be paid out for a shorter period of time.
In a divorce, it would seem an appropriate approach to look at pension sharing and perhaps consider a greater proportion of the pension be shared with the spouse who is in good health. This may enable the spouse in poor health to retain more non pension asset (which could die with them) and pass this wealth down through their family. For completeness, a review of the death benefits available should also be undertaken.
For more information on this and how life expectancy affects pension valuations and other aspects of your finances on divorce, please contact us on 0800 092 1229 or email advice@thedivorceifa.co.uk
Tags: Death benefits, Divorce, Ill Health, Life expectancy, Longevity, Pension, Pension asset values, Pension Sharing, Pension valuations, Pensions, Pensions & divorce, Pensions and Divorce, Poor health, Spouse | Posted in Ill Health |
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