I am divorcing in England and Wales, having been separated from my husband for a year. We are only at the start of the process, and negotiations over the finances could easily take another year, or maybe more. If we end up pension sharing, does the pension pot that is taken into account include that which has accrued between separation and divorce, or just up until the point of separation?
Pension companies work on the holders birthday. This is called the crystalisation day. Say he was born on the 6th of march. The crystalisation day is the 6th of every month. What this means is that the pension is calculated that day. If you make a pension sharing or earmarking order, it cannot be calculated until the 6th. Get it? This calculation will be done in the first bithday after the order is made by the court. So if the order is made on say 31st of Feb and his birthday is on the 6th you wont know what the amount is until that day. I hope this is clear. Its complicated. Chris.
The pension pot/CETV in my case - an English divorce - had to be updated a couple of times up to the date of the FDR - so it's a running total; what's in the pension pot at the date when the percentage share is decided -ie at FDR or Final Hearing if it goes to that- is the amount available for sharing.The percentage share is based on the up to date CETV at the date you agree the pension share.
For Scotland I believe the CETV available for sharing stops at the date of separation
On another thread - entitlement to pension - Fiona wrote
"In Rossi v Rossi it was determined that assets acquired or created by one party after separation might qualify as non-matrimonial property, if it could be said that the property in question was acquired or created by a party by virtue of his personal industry and not by use of an asset created during the marriage."
In my case the pension contributions made after separation and other savings were shared but this may not be automatic in all cases as I previously thought.