Please switch to Family Law. I did not mean to put this in Finance but now can't change it.
Pension Sharing. I have a pension and am getting divorced. I would like to understand how the order would potentially work. The pensions present value is £220,000. In other words. The documentation I have for it says that the deferred annual benefit when I reach 58 ( 9 years from now ) is £58,500. So, I presume that a typical pension sharing order would split the £58,500 in half, providing £27,750 for both of us? ( I am male and the breadwinner ) I am 49 and my wife is 42. I present the question because when my pension vests it will be worth more than this amount, but at the date we will have finalized our divorce this value is accurate in terms of the benefit I would receive. Secondly, does my wife have to wait until she is 58 to collect this money, or does she start to collect it when I am 58. I presume the latter.
No. No pension. I've been paying in for 18 years and have been married for 18 years.
Thanks for attempting this. It didn't really answer my question unfortunately. My question was about how the order would work, but specifically about the mechanics of it. My point was that it is worth £58.5k today, but in a year from now it will be worth considerably more $160k, BECAUSE at that point it will be fully vested. If I settle the case today at my pension though is only worth £58.5k. If I quit tomorrow, I would have £58.5k. If I get fired next month I would have £58.5. My question then is £58.5 the basis for the pension pot split?