Pension Sharing Order - Advice needed

zeal320

I agreed a pension sharing order with my ex wife which gave her a percentage of my company pension, this was part of a consent order sealed by the courts last year.
I recently enquired of my pension department as to why I had not been advised of this order being implemented and was told that they were waiting for my ex to tell them where she wanted her share to be placed.
I am still contributing to my pension pot and therefore I am concerned that the additional contributions I have made since the consent order was sealed will be taken into account when the pension share is finally implemented (it has been a year since the consent order was agreed).
Does anyone know whether these additional contributions will form part of the final pension share calculations?
Regards.

atush

You'd need to look at your specific agreement, ask your solicitor.

dunstonh

Normally, the receiving person gets their IFA to sort it.

RichandJ

zeal320 wrote: »

I agreed a pension sharing order with my ex wife which gave her a percentage of my company pension, this was part of a consent order sealed by the courts last year.
I recently enquired of my pension department as to why I had not been advised of this order being implemented and was told that they were waiting for my ex to tell them where she wanted her share to be placed.
I am still contributing to my pension pot and therefore I am concerned that the additional contributions I have made since the consent order was sealed will be taken into account when the pension share is finally implemented (it has been a year since the consent order was agreed).
Does anyone know whether these additional contributions will form part of the final pension share calculations?
Regards.

Any contributions/accrual since either the date of the Order or previous date as defined in the Order (usually separation/decree absolute) should not be taken into account when the Order is finally implemented.

This is from memory & I'm not in the office to check. As always, best to ask the admin - supervisor/team leader/manager level, not the poor underpaid sap doing the actual work.

zeal320

Thanks for the reply's, I have since found the following for anybody who might find themselves in the same situation:

The valuation date is the date on which the cash equivalent valuation requests are received by the scheme trustees or scheme providers. It should not be confused with the valuation day, which is the day on which the pension scheme trustee or provider recalculates the cash equivalent value during the implementation period.
The implementation date is the date on which the pension scheme has received all necessary information after receiving the Pension Sharing Order and if necessary payment of their charges to begin dealing with any pension credit. The pension scheme then has four months from the implementation date to put the order into effect. If they have not been provided with all the information that they require, the implementation date will be delayed.
The transfer date and the effective date of the Order are one and the same. The Pension Sharing Order is made and it is then issued to the pension scheme with a copy of the Decree Absolute. To allow for appeal, 21 days after the receipt of the Order, the transfer date is created. At such time as the scheme recalculates the cash equivalent, it will base its calculations on the transfer date and pension contributions and scheme membership accrued to that date. Any subsequent accrual of pension rights and contributions between the transfer date and the eventual valuation day will be ignored.