Hi, I was justing reading the info on a solicitors website re: pensions and it worried me. My ex was in a lowish paid job for the majority of our marriage so for 10 years the employer alone contributed to his pension and I was at home with the children so didnt have provisions of my own. Then as I mentioned on another thread a few years before our seperation he became a firefighter and now his income is healthy, he does a lot of cash in hand work and on retirement will get a lump sum and over 12k a year for life. According to this website only the value of the pension fund at the time of divorce is taken into account and used to offset against other assets. Well as my husband was only in the fireservice for 2 years at the time of seperation 5 years ago the value of his fund will be very small. As I said before the only provision I have for my future is the equity left in the house which under my exes proposal where I give him 25% of it and pay of a 71k mortgage leaves me yes, enough to buy a tiny flat with no mortgage when my youngest turns 18 but not enough for any lump sum to transfer into a pension fund. Really really worried. Any advice will be appreciated.
I think if you're in Scotland you share what was in your pensions at the date you separated.For my English divorce the pension information was updated about two weeks before we signed the Consent Order and I shared the amount that was in the pensions at that date - not the amount in it at the date of separation 2 years before.
It takes quite a big pension pot to pay £12k a year annual pension but that will be the income amount at the date he can take a pension - might be 65 - what's in the pension pot now might be a lot less but you should apply to share it and get a pension in your own name or get a bigger share of the house in exchange for not sharing the pension.
Make sure you know what pension rules apply to ex-spouses; they will probably be different from the rules that apply to your ex. I think the Fire Service pension rules are online.