Do I need an actuary (a pensions expert)?

General information, not advice on your own case.

Read the transcript

Usually one. It is called a single joint expert: you both instruct the same person, you agree the questions between you, and you both get the same report at the same time. One expert, one fee, one set of answers, and nothing to argue about over whose figures are right. That is the normal route, and for most couples it is the right one. When would you want your own? If you need advice on your own position, rather than a neutral answer for the two of you. Or if a joint report has come back and you genuinely cannot follow how it got there. That is a second opinion, and the person who wants it usually pays for it. So start with one. Two experts is a decision you make later, if you need to, not where you begin.

Not every divorce needs a pension valuation. Paying for one you don’t need is a waste; skipping one you do need can cost you far more. The deciding factor is not the size of the pensions so much as the kind.

You probably do need an expert if:

• there is a defined benefit (“final salary” or “career average”) pension of any real size, including any public-sector pension (NHS, teachers, armed forces, police, fire, local government, civil service). The transfer value these schemes quote is not a reliable guide to what they are worth, and dividing on it can be badly unfair;
• the pensions are large relative to your other assets;
• you and your ex-spouse are different ages or will retire at very different times, so an “equal” split of value could still leave you with very unequal incomes;
• there is anything unusual, ill-health, overseas pensions, a mix of scheme types, or a dispute about how much of the pension counts.

You may not need one if:

• the pensions are all defined contribution (pots of money), of similar size, with no complicating features, in that case the value is roughly the balance, and there may be little an expert can add.

The important idea is that a guaranteed pension is a different kind of asset from a pot of money, and only the first usually needs an actuary to value it properly. If you are not sure which you are dealing with, that is exactly what the “Do I need a PODE?” tool is for, it asks the right questions and gives you an answer in a couple of minutes, without any paperwork.

And if a good expert looks at your case and tells you that you don’t need a full report, take that as a good sign, not a lost opportunity.

July 2026