Why do I need a Full PODE report?
Quick answer
If your assessment has recommended a Full PODE report, that’s either because your pensions are complex enough to benefit from detailed expert analysis, or because your divorce is, or is likely to be, going to court. A Full PODE report will enable you to make fully informed decisions around your pensions and can be used to help shape your final settlement.
Why has the assessment suggested a Full PODE report?
A Full PODE report is usually recommended where one or more of the following applies:
Either person has a defined benefit pension, such as NHS, teachers’, civil service, armed forces, police, fire service, final salary or career average pensions
The pensions are high value or more complex
There is a significant difference between your pension positions
You need detailed analysis suitable for court
You want to understand the impact of pension sharing on your retirement income
Why can’t we just use the pension statement?
You would assume that the value of the pension provided by a scheme in the form of a Pension Statement or what they call a Cash Equivalent Value (CEV) would be exactly what your pension share should be based upon.
But the ‘real value’ of pensions can be significantly different than the figures which providers supply. This is especially true for Defined Benefit pensions.
A headline value may not show:
What retirement income the pension is likely to provide
Whether a 50/50 split of pension values would produce a fair income outcome
How different pension types compare
Whether the proposed pension share is enough to make the settlement fair
A Full PODE report is designed to answer these vital questions.
Is this adding unnecessary complication?
It can feel that way, especially if you are trying to keep the divorce moving.
But without proper analysis, pensions can look easier to divide than they really are. A settlement may appear fair because the figures look balanced, but still leave one party with a much stronger retirement position than the other.
A Full PODE report gives everyone a clearer basis for discussion. In many cases, that can reduce disagreement and smooth the settlement process along because both parties are working from the same independent analysis.
Is a PODE report worth the cost?
Divorce can be expensive, questioning the costs is reasonable.
The cost of a report needs to be weighed against the value of the pensions and the peace of mind that would come from being fully informed about them. Where pensions are high value, complex, or central to the settlement, oversight does have the potential to cause significant detriment for years to come.
A Full PODE report offers:
Clear understanding of the ‘real value’ of your pensions
Objective analysis of different sharing options
Greater clarity in your negotiations
Long-term confidence before decisions become final
The aim is not to spend money on a report for the sake of it. It’s to avoid making a permanent decision with incomplete information.
What if we are not going to court?
A Full PODE report can still be the right call even if you intend to settle out of court.
The report is prepared with the depth of analysis that lawyers and courts require, but that same depth can be useful in mediation, collaborative discussions, solicitor negotiations or direct discussions between you.
If pensions are complex, an independent expert report can make settlement discussions more focused and less speculative.
What does the Full PODE report help you decide?
A Full PODE report helps you understand:
Whether pensions should be shared
What pension share may be needed to achieve a fair settlement
What the outcome might mean for each person in retirement
The bottom line
If your assessment has recommended a Full PODE report it will give you the detailed, independent analysis needed to make informed decisions, reduce uncertainty and work towards a settlement that works for you both in the long-term.
FAQs
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You may still need a Full PODE report even if you hope to settle through mediation, solicitor negotiation or direct discussion. If pensions are valuable, complex or difficult to compare, the same detailed analysis can help you negotiate from a clearer and more reliable evidence base, regardless of court involvement.
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A Full PODE report is designed to provide detailed expert pension analysis that can support financial remedy proceedings, solicitor negotiations, mediation and court approval. It gives the pension evidence needed where a lighter-touch report would not be enough.
What to do next
If your assessment has recommended a Full PODE report and you’re ready to get started, the next step would be to instruct us, which you can do here. If you’re not quite there or have further questions, then take advantage of the 10 minute ‘Clarity Call’ offered when you completed your assessment.
