Mathieson Consulting Limited is proud to announce the launch of the Galbraith Tables, being our proprietary actuarial tables for use by solicitors in seeking to provide a high-level value of pension rights for offsetting purposes.
These tables, which can be found HERE (V2 dated April 2024 replaces what existed before) alongside a detailed explanation of how they might be used, have been produced by Jonathan Galbraith and Chris Goodwin, both experienced pensions actuaries and Principals at Mathieson Consulting Limited. The story behind how the tables came to be was discussed in an article published in the inaugural edition of the Financial Remedies Journal, to be found HERE.
In short, the tables allow the user to place a “ballpark value” on the pension entitlement (i.e. a pounds per annum pension payable either at present or in the future) to allow this to be compared with non-pension assets e.g. the Former Matrimonial Home. This responds to a need expressed to us by many firms of solicitors that such high-level analysis may prove invaluable in the early stages of a financial settlement, and might prove useful for decision-making purposes when it comes to instructing an expert witness.
Moreover, the tables reflect this Firm’s response to the challenge set out in A Guide to the Treatment of Pensions of Divorce, which is the report of the Pension Advisory Group (PAG), as published in July 2019 by the Nuffield Foundation (Found HERE). Therein, it was explained that such tables might be of considerable use for allowing the straightforward capitalisation of pension rights for use in divorce cases.
Jonathan Galbraith, Principal at Mathieson Consulting Limited and co-author of the Galbraith Tables says:
“I am delighted to put my name to what I hope will prove to be a very useful resource for family solicitors in the years ahead. These tables are intended to bring some simplicity to otherwise complex pensions matters, and will at the very least give the user an appreciation of the expected cost of meeting pension promises that an individual may hold.”
Chris Goodwin, Principal at Mathieson Consulting Limited and co-author of the Galbraith Tables says:
“Although in many cases, professional advice may still be required from a suitably qualified PODE, we believe that the Galbraith Tables can bring considerable value to family solicitors when dealing with the ever-complex question of how to compare pension rights alongside other financial assets upon divorce.”
George Mathieson, CEO of Mathieson Consulting Limited says:
“The publication of these tables reflects a splendid effort on the part of Jonathan and Chris, and it demonstrates very much that this Firm is at the forefront of thought leadership in how pensions might be valued for offsetting purposes on divorce. I have every reason to believe that these tables will take their rightful place alongside Duxbury and Ogden in the fullness of time.”
We have reviewed the assumptions underpinning the Galbraith Tables in light of the current economic conditions and have concluded that it is too early to draw any firm conclusions as to what changes, if any, ought to be made. This document sets out our statement on the issue, and notes that we intend to revisit this matter in spring 2023.
