btp pension

Hi Everyone

Its been a while since Ive posted on pensions but thought it may help if I post with regard to the outcome of my pension sharing Story.

The Pension Sharing Order came through at the beginning of December along with a couple of surprises.

Firstly for newbies. My ex is in the Army, we were together for 19 years before he had his mid life crisis and left. When we met he was a LCpl and when he left he had just been commissioned to Capt. We didnt own a home so the Army Pension was the most valuable asset we had.

I have two small pensions of my own, an Army and a Civil Service one. All three pensions were lumped together and divided equally. I will receive 42% of the CETV Value.

Now for the surprises, well to me anyway and Im sure to some of you.

Firstly, as well as the monthly payment, I will receive a "Preserved Terminal Grant" Lump Sum! Didnt see that one coming. So it seems that his lump sum when he leaves the Army will be reduced.

Secondly the Pension and Lump Sum will be paid when I am 55. The new rules stated that it can be paid at 55 but it seems this is automatic (at least with MOD Pensions).

Now I have the knowledge that there is some security in the future.

For those of you starting out on the Nightmare that can be pensions remember there can be a light at the end of the tunnel. You have invested in the careers of your exs/stbxs and the law says that should be acknowledged.

Asram

Hi Asram

Thank you for the very positive story. Gives hope to us all!

My situation however slighly different. I was still married to stbx when pension came into payment and commutation (lump sum) was paid. We therefore 'shared' this as it was used to purchase another MH, free of mortgage.

He however, now wishes to hog the whole of the on-going residual pension, saying it is his and his alone....!

Glad it worked out well for you asram and how interesting! Can I ask what you think I can expect, given your experience?
My ex is also forces and due to retire at 55 in 4 years time. We are the same age. We have no assets to share except the MOD pension and I am hoping to agree a 50% pension share with him. He will get a lump sum and a pension. Does that mean that at age 55 I will get half his lump sum and start getting a pension in my own right automatically without having to ask for it? I wonder if my pension (and yours) would be significantly reduced as people seem to think!

He is right his pension is a Railways Pension and not a Police Force one, you may well find the information you require by going onto the Railways Pensions website and clicking on the link for the British Transport Police.

www.railwaypensions.co.uk/

Hope this helps.

Donna

thanks a lot.....