Claiming of Ex partners pension

brettarider

I'm making a claim on my ex partners pension as we were married for 8 years what sort of % of the pension would I be able to claim and as I'm 34 would I be able to get
a % of it now or would I have to wait until I was 50 or she retires?

MiloH

brettarider wrote: »

I'm making a claim on my ex partners pension as we were married for 8 years what sort of % of the pension would I be able to claim and as I'm 34 would I be able to get
a % of it now or would I have to wait until I was 50 or she retires?

Hi brettarider,

The two main options with her pension are;
a) offsetting - where she keeps the pension, you keep more of something else
b) a pension sharing order - where an agreed proportion, up to 100%, of her pension is allocated to you.

Due to a rule change next April, the earliest you could start spending it is 55. With a sharing order you decide when you take retirement benefits and it doesn't matter when she retires.

The length of your marriage is such that you would have a decent case in court if you argued that everything should be shared equally, especially if you were financially interdependent before getting married.

brettarider

Forgot to add that although the divorce was granted last Sept I still havent signed off the final part regarding finances does this mean that I can still make a claim against her pension to the present date? I've not had a pension since early 2007 when I was made redundant been self employed and not starting a new one until everything is resolved

MikeJones_2

Hi brettarider,

Depending upon how you and your ex-spouse's finances are structured it might not necessitate a sharing/splitting of any/each of your pension provision.

You might be able to come to some other financial arrangement which takes into account all of your finances, but establishes a division of assets that avoids the pension fragmentation.

Of course, it may well be in your interests to seek a share. Have you sought legal/financial advice for this?

Mike

I work in the field of Pension Education and Pension Guidance in the UK. I am a member of the Specialist Pensions Forum as well as being a Voluntary Adviser for The Pensions Advisory Service. I work with scheme members, employers, trustees, scheme administrators and advisers on most things to do with employer sponsored pension schemes. The views expressed by me in this thread are my personal opinions. You should seek professional advice from an appropriately experienced and qualified adviser. I am not an IFA.

MiloH

brettarider wrote: »

Forgot to add that although the divorce was granted last Sept I still havent signed off the final part regarding finances does this mean that I can still make a claim against her pension to the present date? I've not had a pension since early 2007 when I was made redundant been self employed and not starting a new one until everything is resolved

There's nothing to stop you trying. If it went to court, a judge might lean towards a value based on contributions made while you were still together.

NAR

Pension is just part of the overall financial settlement jigsaw. Both sides can hopefully agree this settlement, otherwise the judge will decide what is equitable to both sides (though judge can overrule agreed settlement if they think someone is losing out). Look at the pension as just another factor in finances eg house, savings, shares etc which have to be divided.

yelf

brettarider wrote: »

I'm making a claim on my ex partners pension as we were married for 8 years what sort of % of the pension would I be able to claim and as I'm 34 would I be able to get
a % of it now or would I have to wait until I was 50 or she retires?

If the pension is subject to a sharing order you will recive part of the pension pot, which will be put into a pension of your own - which you can invest how you want and take it when you want from age 55.

If it is subject to an earmarking order, you will be entitled to a portion of the benefits when they are taken. This means the ex-spouse has full control and can invest the funds in a way that they lose most/all of the value and not take anything left until age 75! - meaning you will get not a lot