Case Study 1 - The Miserly Offer

Background

  • Our client, Mrs F approached us after being offered 55% of her ex husband’s pensions.

Concerns

  • She was concerned that the offer was not a fair one after such a long marriage (25 years).

What We Did

  • The parties agreed to look at the split on an equality of income basis.
  • We produced a report (including actuarial input) factoring in sex, ages and importantly (in this case) the client’s health. The ex husband was in poor health.
  • The report concluded that the split for equality of income should be 68% to our client.

The Results

  • The client agreed a 63% split in her favour.
  • This was an 8% increase on the initial offer which equated to £120,000 in extra cash equivalent transfer value.
  • She will receive an extra income of circa £7,200 per annum.

What Our Clients Say...

His attention to detail was impressive...
“Phil has shown much patience and knowledge in helping me plan for my future after divorce, being so close to retirement. Despite unusual circumstances of distance, he rose to the occasion leaving no stone unturned with regard to either his professional responsibilities or my future needs. His attention to detail was impressive, always maintaining regular contact. He approached weighty matters with gentle humour when needed to offset my initial nervousness in decision making.

I was given as much time as I needed to read the paperwork involved and ask questions. I was stunned when I was advised by him to apply for the State Pension, an area in which I had no knowledge at all and Phil showed his true value with his directness and I found in conclusion that the system is not so hard for the lay person if one trusts the person giving the advice.
I waited until I was back in the UK before I submitted my decree absolute to the Department of Work & Pensions and they had already given me a basic pension. I logged on to my current account and they had given me a lump sum back payment now that they are using my ex’s contributions that was a wonderful surprise as you may imagine! It has almost quadrupled the original sum they were paying each month”
Mrs Cole - Hampshire

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