Case Study 7 - The Separating Couple
- Mr & Mrs C were both aged 61, in good health, with three grown up children. Mr C had a British Petroleum pension in payment of £18,000 per annum with provision to Mrs C on death of £15,000 per annum (83%).
- How to provide an adequate split of pension assets which was fair to both sides.
- No shadow membership available.
- CETV – poor value to both sides.
What We Did
- Requested an actuarial report which stated that the share needed to be 63%:37% in Mrs C’s favour to equalise gross pension in payment of £7,000 each.
- We advised on the clients on their options including the costs of implementing a pension sharing order and the consequences of this approach.
- Clients decided not divorce but legally separated.
- Mr C retained his higher pension.
- Mrs C retained her 83% benefit on Mr C’s demise.
- Both would have been short changed by a sharing order.
- Novel and innovative solution.
What Our Clients Say...
He started his efforts by finding out what was important to me...“Phil has given me an individual service following the courts decision to award me with several pension sharing orders, no easy task of trying to get them implemented when you are living thousands of miles away in the Far East and struggling in the fog to deal with them.
Phil impressed me from the start as he was not daunted by the fact it would not be a straight forward case. He started his efforts by finding out what was important to me, my attitudes to risk and what my goals were before making any recommendations. Phil is approachable and plain speaking who is totally dedicated to providing you with the best services and advice. I have no hesitation in recommending Phil as a trustworthy financial advisor. I now have peace of mind and am looking forward to a comfortable retirement.”
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