Child Maintenance advice

My ex-wife has proposed I pay her a ‘one off payment’ instead of me paying my monthly child maintenance. We have a consent order which has been in place for the last 3 years. The reason she has suggested this is that I’m about to retire and my financial earnings will drop as I will be living off my pension. Can this be done legally and if so how would I go about it?

Any advice would be greatly appreciated.

Thank you.

Don't do it. Child maintenance should only be paid from income. You can only afford to pay what you can afford to pay if your income drops and there is a formula for calculating it. Your ex wife may not like this but if your income drops there is no good reason why she should be insured against the consequences at your expense. Your income is what it is.

Thank you Mr Terry for the prompt advice as always.

Best regards.