Preparing A Pension Sharing Report
It is very important to note that preparing a Pension Sharing report is not in itself an unduly long process.
Collins Pension Actuaries provides reports within 6 weeks once it has received all the information it requires.
However, to prepare a report to the standard that Collins Pension Actuaries sets itself, we require a level of detail about the pensions that in the vast majority of cases will necessitate the parties having to supply or request further information from their pensions schemes.
Legislation generally provides pension schemes up to 3 months to provide certain specified information, but this often falls short of the level of detail required and so further pension data requests will need to be made of the schemes.
If the parties can provide copies of all information they might have concerning their pensions then it may well be that the required information is already held by the parties. In our experience, schemes will take many weeks to provide even the most basic of information.
Therefore, in terms of timescales in respect of dates for Court Hearings, we strongly advise that solicitors, the divorcing parties and the Court allow up to 20 weeks for the provision of a report.
If you are considering requesting a quote, or instructing Collins Pension Actuaries it is important right from the outset to provide as much information about the pensions involved. This is not simply a copy of the CEV headline figure or the first page of a personal pension statement. The more detail you can provide, the better Collins Pension Actuaries can assess the pension.