Posted September 24th, 2010
The site has just had a makeover and we would welcome your comments. Let us know what you think and whether there are any areas you feel can be improved. Comments to advice@thedivorceifa.co.uk
We are seeing an increase of instructions month on month as issues such as the CETV embargo in the Public Sector take hold (see our previous blog on this).
We offer a free initial consultation and are happy to provide you with initial comment on a free, no obligation basis. So why not try us out. You can contact us for free on 0800 092 1229 or by email on advice@thedivorceifa.co.uk
Recent examples of our work include:
The quadrupling of the amount of state pension being paid to my client.
- Successfully arguing that a cash equivalent transfer value should be £140,000 and not the stated £90,000.
- Advising on 10 pension schemes within a divorce and reducing the costs of the actuary by £500 and implementation of the pension sharing orders by over £4,000.
So why settle for less?
0800 092 1229 or advice@thedivorceifa.co.uk
Tags: Cash Equivalent Transfer Value, CETV, CETV embargo, Divorce, Free, Free Initial Consultation, Initial Consultation, No obligation, Pension, Pension Sharing, pension sharing order, Pension Sharing Orders, Pensions, Pensions and Divorce, Public Sector, State Pension | Posted in Pensions & divorce |
Comments: No Comments yet!
Posted August 23rd, 2010
In my last blog entitled “Self Invested Personal Pensions – What are the risks?” I set out the wide range of investments into which a SIPP can invest.
With some divorces taking years to conclude it is important to consider what risks are being taken within the SIPPs.
One of the highest risk investments that could be encountered is private equity or unquoted shares. This is an investment into a private business often one which the SIPP member has a stake in privately or an interest in.
The key here is that this is usually a small business with a closed shareholding which are not quoted on a recognised stock exchange.
Unquoted shares
The attraction of holding unquoted shares in a SIPP is that any profits (which can be high given the high risk being taken) are free from capital gains tax. However, the risk of failure is very high and so for many SIPP providers this is an investment which is to risky for them to allow.
The main issue for the providers is the lack of liquidity and the difficulty of obtaining a valuation. Just like business valuations such investments need to be handled with care and the use of an accountant who specialises in business valuations is highly recommended.
If you would like an impartial review of the SIPP involved in your divorce, please contact us on 0800 092 1229 or email advice@thedivorceifa.co.uk
Tags: Business valuations, Divorce, Divorces, highest risk, Investments, Pensions, Pensions & divorce, Private Equity, Risks, Self Invested Personal Pension, SIPP, Small business, Unquoted shares | Posted in Self Invested Personal Pensions |
Comments: No Comments yet!
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 |
Comments: Only 1 comment so far. Add to the discussion!
Posted August 6th, 2010
The Coalition Government’s emergency budget announced that public sector pensions will in future link to the consumer prices index (CPI) rather than its current basis, the retail prices index.
This has wide reaching implications, not only for those public sector workers currently going through divorce who are unable to get cash equivalent transfer values (CETVs) or implement their pension sharing orders, but potentially, all final salary pension schemes.
The implementation of the change has been set at 3 months but this is by no means guaranteed and there is likely to be a backlog of cases. This affects all of the public sector schemes including the NHS, Fire, Police, Armed Forces, Teachers and the Local Government Pension Scheme.
It is possible to still get divorced legally but the financial settlement will not be completed without agreeing the pension settlement.
The long term implications of the move are greater. The CPI is a lower measure than RPI and so the knock on effect will be that inevitably CETVs will be lower leading to lower pension settlements.
In addition, the private sector is likely to follow suit although this will take longer as they will need to consult with their pension members.
See my comments on this in The Guardian.
For more information on this issue, please contact us on 0800 092 1229 or email advice@thedivorceifa.co.uk
Tags: Armed Forces, Cash Equivalent Transfer Value, CETV, Coalition Government, Divorce, Emergency Budget, Final Salary Pension, Financial Settlement, Fire, Local Government Pension Scheme, NHS, Pension Settlement, pension sharing order, Pension Sharing Orders, Pensions, Pensions and Divorce, Police, Public Sector Pensions, Teachers | Posted in Transfer values |
Comments: No Comments yet!
Posted January 19th, 2010
Skype is a fantastic means of communicating especially where you want to keep matters confidential.
Having recently added it to the range of contact options I offer to clients I have been amazed by the diversity of the responses and indeed the geography!
In the past few weeks I have had discussions with UK divorcees living in Poland, Jersey and on holiday in Texas wanting to understand where they stand with their pensions and finances on divorce. All these conversations were FREE.
For those starting out on divorce I offer a free initial consultation on the financial aspects of divorce and you can find my contact details here www.thedivorceifa.co.uk/contact-us
This can be done in a highly confidential manner using Skype www.skype.com or via email. Of course, if you prefer a more personal approach, face to face meetings can be organised or even a webcam session can be arranged. I am here to help, so please get in touch by whichever means you prefer.
Tags: Divorce, Finances on Divorce, Pensions, Skype | Posted in Communication |
Comments: No Comments yet!
