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ex's pension provider does not want to provide final cetv

  • denpat
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28 May 24 #523153 by denpat
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Hello,
we in the process of finalising the pension sharing (pension sharing order/annex granted) 2 years after the final order

in the papers provided by the the ex's pension provider, stated a CETV - presume the final cetv value before the split/share but they do not want to provide the cetv value stating they would be in breach of the data protection as the details are in the ex's personal details. I replied that they had a obligation and a disclosure duty, otherwise how would i know they have done it correctly as per the order.

i have heard that the pension holders do not like providing the final cetv asd they like to undervalue. is this something everyone has trouble with at the very end and how to overcome this final hurdle.
can i take it back to court for their failure of disclosure, co-operate & provide a final cetv?

thanks in advance

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29 May 24 #523154 by WYSPECIAL
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Why would they like to undervalue?
Most pension schemes are keen to get rid of their liability, which could last for years, for a fixed payment today,

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29 May 24 #523155 by .Charles
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It's not that the pension providers undervalue - it is more how the CETV/CEV is interpreted.

There are lots of different pension mechanisms and the real value is difficult to calculate which is where pension experts get involved to prepare an actuarial report.

Whether a report is necessary and proportionate is another thing. Seeking legal advice on your options is avisable if you are in any doubt.

Charles

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29 May 24 #523156 by denpat
Reply from denpat
Thank you for the replies

I do understand that the pension system is not standardized as all experts have their own way of doing it & interpretation issues.
​​The expert that was used or shall I say the 'expert on the ex's solicitor's books' did not want to follow the Nuffield trust guide even though I said it needs to be.

The initial report was done by the expert & 2nd report as well nearly 2years later after the final order (got charged to tell me that I will get less if the pension goes down & more if it goes up as if I would not figure that out) & now it's gone to the pension people to share/split as per the order. Their papers stated a cetv calculation which they do not want to provide to me, so how do I know they have followed the order?
Do I take it back to court stating failure to disclose & not co-operative or how to deal with the pension people?
I've been charged by solicitor's then to not take it on or want to go through the whole file when the process has nearly completed hence asking here.
Thanks in advance
​​​

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30 May 24 #523157 by .Charles
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Was the pension expert jointly instructed? If so, it would be difficult to challenge the report without compelling evidence.

Charles

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02 Jun 24 #523174 by denpat
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i am not contesting the report.
we are in the final stages before asta-la-vista
i have provided my details to the pension company where to transfer my share.
Their papers states a cetv to be produced before division as the last valuaiton is many months old & the value would have changed since but they do not want to provide the latest valuation.
how do i know they will share (ie 45% to me) of the latest valuation, as all i will see in my account is some figures. figures from what amount (cetv) is what i am after but they do not want to provide this.
can i take it back to court for theie non-discolsure /non-co-operation or what is my other option?

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02 Jun 24 - 02 Jun 24 #523179 by hadenoughnow
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Surely the pension report gave some figures so you can work out the CETV of your share?
If when the pension is shared, the figure is less, you can assume the CETV has reduced. This doesn't necessarily mean the benefits have diminished especially if it is a defined benefit pension. Defined contribution pensions are subject to market fluctuations and that's not something the court can or will take into account.
I appreciate that you are keen to ensure you aren't being short changed. If you really want to be given the figure, you may need to explore an application to court for a 3rd party order. I suspect the reason you haven't got far with representation is that this is not usually an issue; pension providers are trusted to do the calculations and share the pension according to the order that legally binds them to do it and the CETV at the time the share is implemented.

Hadenoughnow
Last edit: 02 Jun 24 by hadenoughnow.

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