Case Study 7 – The Separating Couple
Background
- 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%).
Concerns
- 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.
The Results
- 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...
They rose to the occasion...
“I would like to take this opportunity to thank all the team at Whitewell Financial Planning especially Mr Phil O’Connor for their caring and considerate expertise in providing me with valuable financial planning assistance and guidance for my future pension. They rose to the occasion when there were problems relating to a Pension sharing order. They did their utmost to assist and resolve the problems expeditiously and they worked tirelessly to make sure that the problem and or any delays were minimised and as a result they assisted me greatly.
From the first moment that I approached the company to the conclusion of my dealings with them I found them to be faultless and would rank them highly for their professionalism and efficiency and would have no hesitation in recommending the company to anybody who wants a straight forward conclusion of their Pension worries and future security.”
Elizabeth Malialis – London
More Case Studies
Some of our Accreditations & Awards
