Most pensions actuaries think they have seen all there is to see on pensions on divorce. But there is a small industry of actuaries doing valuable, specialist work as single joint experts for individual divorces.
The need arises primarily because of inconsistency between bases. A 50:50 share of CEV may result in very unequal outcomes if the member spouse is in a DB scheme, but the non-member spouse must buy an annuity to achieve similar security.
Alternatively, where there is a significant age gap, a 50:50 division based on CEVs will likely lead to significantly different incomes when each reach retirement age. If the case is settled through offsetting, the CEV of a DB pension will not necessarily be a market-consistent measure of the value of the benefits, so a different measure may be appropriate.
The Pensions on Divorce Working Party was formed to follow up on the findings of the IFoA thematic review of this work. Its work includes:
- Standardisation of the format of reporting by actuary experts
- The feasibility and content of a technical standard for divorce
- Default technical methodologies
In many ways this is also a case study in wider actuarial and professional themes such as consistency versus individual judgement, protection of users, accuracy versus pragmatism, and prescriptive regulation versus reliance on accreditation of expects.
Programme
- Speaker registration: 16:30 to 17:00
- Delegate registration and networking: 17:00 to 17:30
- Sessional meeting: 17:30 to 18:45
- Presentation of the Finlaison Medal to IFoA Fellow Peter Tompkins: 18:45 to 19:15
- Networking and coffee: 19:15 to 20:00
Featured speakers
Frances Bailey is a partner at national law firm, Mills & Reeve LLP. A specialist family lawyer, collaboratively trained practitioner and family mediator, Frances has particular experience in complex financial remedies on divorce. She contributes the Pensions on Divorce chapter to ‘Tolleys Pensions’ (one of the leading legal textbooks for pension lawyers) and sits on the Financial Remedy, Pensions & Tax committee for Resolution (a national organisation for professionals working in the family justice system).
Dr Ian Sharpe is a Chartered Actuary (Fellow) and Chair of the Pensions on Divorce Working Party. Ian has had a particular interest in pensions on divorce since 2017 when he first represented the IFoA on the Pensions Advisory Group, an influential interdisciplinary panel which published the definitive guide to good practice in this area. Ian has been Leader of the Scottish Board of the IFoA, a non-executive director, an academic and a civil servant. He is a pensions actuary.
Alex Waite FIA C.Act is President-elect of the Institute and Faculty of Actuaries.
Alex was a partner at actuarial firm Lane Clark & Peacock (LCP) between September 1999 and December 2025. His role combined both executive management of the firm and advising company boards on pension scheme risks.
Alex’s career included working with large multinationals, including lead pensions adviser on multi-billion-dollar corporate acquisitions as well as many of the UK’s largest pension risk transfer transactions. Since the adoption of Solvency II, Alex has specialised in providing risk consulting to some of the world’s largest insurance companies.
Alex has regularly volunteered with the IFoA, including a decade supporting the teaching of CERA seminars as a Risk Practitioner.
He joined IFoA Council in 2025 and is also a founding member of the new IFoA Artificial Intelligence and Emerging Technologies Practice Board.
He is the Chair of the AI group of the Association of Consulting Actuaries and a member of The Pension Regulator’s Data & Digital Working Party.
Pricing and booking information
| Members in-person | Book for free |
| Non-members in-person | Book for free |