The Pension Advisory Group (PAG) has now published two draft reports.
The first report reviews legal questions, including how s 25 of the Matrimonial Causes Act 1973 operates in this context and when to instruct an expert.
The second reviews the assumptions used by experts when valuing pensions for the purposes of sharing or offsetting, and any desirable qualifications and regulation of the experts. The reports are necessarily long, reflecting in part the complex subject matter, but also demonstrating the reasoning behind our recommendations, both where we have been able to reach agreement and where we have not.
The PAG are now seeking your input in responding to the consultation questions. You will find these summarised at the beginning of the Legal report, and at the beginning of, and embedded within, the Valuation and Expert Issues report. If you do not have the time or inclination to read both reports from beginning to end, please just read the sections and respond to the consultation questions which interest you. Please email your replies to Hilary Woodward at firstname.lastname@example.org by 18 July 2018 using the reply and consent form here.
All replies will be considered by the PAG to assist in the preparation of a good practice guide for the judiciary and practitioners specialising in this field, with a target date for on line publication towards the end of 2018. There will then follow another guide for non-specialists and the divorcing public.
Participation in this consultation is entirely voluntary. The PAG will use your responses to better understand the issues facing the professions and to inform the guidance. The group will not be publishing the responses themselves or any part of them, but may, if you agree, publish a list of those who responded to the consultation exercise. When you provide your consultation response, please be kind enough to use the attached reply form. Data will only be collected once you press the send button and it will then be securely stored in accordance with The Data Protection Act and GDPR for a maximum of two years.
This is your opportunity to draw on the experience of a very eminent and hard-working group of professionals who practice in the challenging field of pensions on divorce, and to have your say. This opportunity is unlikely to arise again in the near future. Please respond! And if you know of anyone else who might be interested to read and respond to the reports, please share the reports.
Register to join the first open meeting of the Pension Advisory Group on Thursday 17 May 17:30-19:00 to hear about their work to date and to discuss their interim reports and conclusions.