We have been married for only 2.5 years, and together for five. I have had an NHS pension for 5 years, he has had a pension with his company for about 2 years. He wants to go for half of my pension because he says it's worth more than his!
Can he do this, as our marriage was so short? I have two kids from a previous marriage and one with him.
as far as i know he can still try to get some of your pension regardless of length of marriage.
The nhs scheme is a very good pension, my husbands x took 80% of his private pension but he held onto his nhs. they did have a long marriage
In short, you can argue about your two pensions. Yours may be worth more than his, because the NHS scheme provides very good benefits. You can trade one off against the other, most people do this using the Cash Equivalent Transfer Value (CETV) that each of the schemes will provide free.
It is generally accepted that the CETV undervalues pensions and this impacts on some more than others do. NHS pensions are a case in point. However, if you have only been in the NHS pension scheme for five years, it will not be worth a great deal yet, therefore the difference between an appropriate value and the CETV will small compared to the cost of getting both pensions appropriately valued and arguing the point. That is only going to cost you money in professional fees.
You may like to think about just offsetting one value (CETV?) against the other and have done with it. As a starting point, you might like to use our free calculator bradshawdixonmoore.com/calculator.html which will give you a reasonable idea of the sort of numbers you’re dealing with. (Honestly, there are no catches with using this calculator, we put it there just for situations like yours).
In determining how the matrimonial assets,including pensions, are to be shared the overall picture has to be considered.
If a divorce petition is filed in a short, childless marriage it is unlikely that a 50/50 division of assets will be ordered particularly if one spouse brought substantially more assets to the marriage. Normally assets acquired prior to the marriage will be retained, or returned to the spouse who originally had them, and assets, including pensions, accumulated during the marriage will be divided on a 50/50 basis when the parties divorce.
However, the above may change as the needs of any children of the family are a priority.