Advertisement feature"I am Retired - Goodbye Tension, Hello Pension!"Many think life will be easierretirement, but what happens when yourpension is under attack? Pensions, likeall assets need to be considered whennegotiating a settlement on divorce. Infact, Pensions can often be the largestasset. So, what are the options?The cash equivalent value (CEV) is thefigure used to value a pension on divorcewhich each party must obtain from theirpension provider. There are 3 ways toaddress any disparity in the CEVsonThe third alternative is "offsetting"where the former spouse takescash n lieu of the pensionmember's rights.Pension sharing, where aproportion of member's pension An Actuary is often instructed to providerights are shared with the former calculations on these options, such asspouse. The member's rights arereduced by a specified percentage("pension debit") with thespouse (pension credit member) with the same income on retirement. Itgaining the corresponding may be possible to argue that any claimspercentage. This assists with a should be limited to the rights accruedfinancial clean break.the appropriate level of Pension Sharinge former Order required to provide both partiesduring the marriage.Attachment" where a percentage It is important to seek expert advice.of the pension member's rights arepaid to the former spouse but themember continues to own/controlthe rights. The order can be variedand ceases on the remarriage orJayne Turner is a Partner at Ashfords LLPand a Resolution Accredited Specialistin pensions and complex financialremedies onn pendivorce. She is also andeath of the former spouse. Iis Advanced Member of the Law Society'sunpopular as it does not provide a Family Law Panel and an experiencedclean break.Collaborative lawyer.For further information, please contact:Jayne Turner PartnerT: 01823 232370·cj.turner@ashfords.co.ukOSTTTOrCSAshford Court, Blackbrook Park Avenue, Taunton TA1 2PX

Date: 08 February 2018

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Advertisement feature "I am Retired - Goodbye Tension, Hello Pension!" Many think life will be easier retirement, but what happens when your pension is under attack? Pensions, like all assets need to be considered when negotiating a settlement on divorce. In fact, Pensions can often be the largest asset. So, what are the options? The cash equivalent value (CEV) is the figure used to value a pension on divorce which each party must obtain from their pension provider. There are 3 ways to address any disparity in the CEVs on The third alternative is "offsetting" where the former spouse takes cash n lieu of the pension member's rights. Pension sharing, where a proportion of member's pension An Actuary is often instructed to provide rights are shared with the former calculations on these options, such as spouse. The member's rights are reduced by a specified percentage ("pension debit") with the spouse (pension credit member) with the same income on retirement. It gaining the corresponding may be possible to argue that any claims percentage. This assists with a should be limited to the rights accrued financial clean break. the appropriate level of Pension Sharing e former Order required to provide both parties during the marriage. Attachment" where a percentage It is important to seek expert advice. of the pension member's rights are paid to the former spouse but the member continues to own/control the rights. The order can be varied and ceases on the remarriage or Jayne Turner is a Partner at Ashfords LLP and a Resolution Accredited Specialist in pensions and complex financial remedies on n pen divorce. She is also an death of the former spouse. Iis Advanced Member of the Law Society's unpopular as it does not provide a Family Law Panel and an experienced clean break. Collaborative lawyer. For further information, please contact: Jayne Turner Partner T: 01823 232370·cj.turner@ashfords.co.uk OSTTTOrCSAshford Court, Blackbrook Park Avenue, Taunton TA1 2PX

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