Pensions Scotland

My husband and I are both retired, and live in Scotland. We were married for more than 34 years when we separated last year. I have been receiving my NHS pension for the past year. Yesterday, I received my CETV which was higher than I thought it would be. As yet he has not organized his CETV. He retired 17 years ago, and his net occupational pension of £1800+ per month remains more than three times mine. At the moment I am really panicking. What happens if his CETV is considerably reduced because he has been receiving benefits for the past 17 years, and I find his CETV is similar to mine? We wanted to do pension sharing. Does this mean that with a 50/50 rule in Scotland that I will lose out financially even though he had agreed that I would receive money to make our pensions equal on divorce? Thanks for any advice you can give, as I’m an oddity in the forums as I'm already retired.

Soz you are panicking and I cannot be of any assistance....but hopefully my bumping up your post will get you some answers.

E

bump

Hi Gemini- I'm surprised none of the pension sharing pros has leapt in with answers.
I know practically nothing about Scottish Divorce law.
You asked:
"Does this mean that with a 50/50 rule in Scotland that I will lose out financially even though he had agreed that I would receive money to make our pensions equal on divorce?"
Sorry to be a dumb cluck - but is there a 50/50 rule for pension sharing in Scotland?
I thought the overriding requirement was fairness - if you both reckon it's fair that you should have equivalent retirement incomes from the pension/deferred pay accrued during marriage and such an arrangement is feasible - what's to stop you?
I hope the answer ain't "Scottish Divorce law "


PS There's a series of articles in the Scottish Law Society Journal Online - eg
www.journalonline.co.uk/Magazine/51-5/1003019.aspx

They look complicated but might be a starting point?

maggie wrote:

is there a 50/50 rule for pension sharing in Scotland?
I thought the overriding requirement was fairness -

50/50 is the starting point and fairness as you say maggie is the overriding requirement...albeit splitting assets is more of a haggling process in Scotland

E

Under Scottish Law, only the pension accrued during the marriage is taken into account. There is NO option to include pre-marriage accrual.

Peter

Peter,

All of the pension accrual from a post my ex held prior to our marriage and 3 years into the marriage was included in the pot...was this an oversight or on account of timing?

E