If you get divorced, the court may take your pension benefits into account when reaching a settlement with your ex-spouse.
There are three different ways your pension benefits can be treated:
- Pension sharing. The value of your pension is split between you and your ex-spouse. Your own pension will reduce and your ex-spouse will become entitled to a 'pension credit' in his or her own right. The level of the split will be determined as part of the settlement
- Earmarking. A portion of your pension is 'earmarked' for payment to your ex-spouse
- As an alternative to pension sharing or earmarking, your pension will remain intact and you and your ex-spouse will divide other assets, taking account of the value of your pension when doing so
Your solicitor will be able to give you more guidance as to the different options available.
You may find http://www.divorceaid.co.uk useful.
What happens to my pension if I remarry?
Your pension will continue to be paid as normal whether you are receiving a pension in respect of your own Fund membership or are receiving an adult dependant's pension.