What process will be followed?
Please be aware that there will be a delay in providing a Cash Equivalent Transfer Value (CETV) from Monday 29 October 2018. This is due to a proposed further reduction to the discount rate in the 2018 Budget, this discount rate is used to assess the current cost of future payments; known as the SCAPE rate.
You will need specific information about your LGPS benefits as part of the proceedings for a divorce, judicial separation or nullity of marriage, or for dissolution, separation or nullity of a civil partnership.
You or your solicitor should contact us for this information, including an estimate of the cash equivalent value (CEV) of your pension rights. The Court will take this value into account in your settlement.
You usually get one free CEV estimate each year. Any other costs for supplying information or complying with a Court Order will be recovered from you and/or your ex-spouse or ex-civil partner in accordance with the Fund's charging policy.
All correspondence received by the Fund in connection with divorce or dissolution proceedings will be acknowledged in writing.
If no acknowledgement is received, you should contact us to ensure that your correspondence has been received.
The Court may offset the value of your pension rights against your other assets in the divorce/dissolution settlement or it may issue a Pension Sharing Order (qualifying agreements in Scotland) or an Earmarking Order against your pension.