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Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34902
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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I am going through a divorce process and am negotiating with

Customer Question

I am going through a divorce process and am negotiating with my partner about sharing pensions. We both have final salary schemes and both have AVCs. I have a health condition which is likely to affect my life expectancy.
I would be interested to know how my medical condition would impact the split of our pension assets.
Many thanks
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How old are you both?
Customer: replied 2 years ago.

Thank you Clare,

I am 49 and my wife is 47.

I have had type-1 Diabetes since I was 12 years old and I am beginning to develop some complications from this disease. My wife is in good health. Although I intend to work until 60+, I am informed that I have an increased risk of sudden death and premature death. My life expectancy is perhaps 10 years less than someone who does not have this condition. I have been lead to believe that this would have a material influence on how an actuary could value a final salary scheme and an AVC scheme.

Both final salary schemes are NHS schemes, mine is worth £300k, hers is worth £180k. My AVC is worth £55k and hers is worth £18k

I am anticipating that in the final settlement some transfer of pension capital will be made from me to my wife in the region of £75k

My question boils down to whether if an actuary was involved, would it be in my best interest to take my medical condition into consideration? Would my condition mean a greater proportion of the marital pension assets being allocated to me or my wife.

Thank you in anticipation.

Expert:  Clare replied 2 years ago.
How long have you lived together?
Customer: replied 2 years ago.
We have lived together for 19 years, although we have only been married for 11 years.
Thank you.
Expert:  Clare replied 2 years ago.
Actually it could work against you since you have a lower life expectancy and accordingly need less pension provision
On that basis going with an actuary might not be the best option for you - but it is of course a personal decision to make
Please ask if you need further details