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Ask JGM Your Own Question
JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11423
Experience:  30 years as a practising solicitor.
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I am going through divorce at present and key point is

Customer Question

I am going through divorce at present and key point is apportionment of my pension fund to my ex wife who is now living apart from me and claiming her rightful settlement. When I look at The Divorce etc. (Pensions) (Scotland) Regulations 2000, I can see
how the calculation works, but Value 'A' which is referred to as pension value is NOT clear. I have had personal pension running since 1997 and it had reached a pretty high value by June 2011 when we got married, hence any market investment rise is heavily
weighted to value of pension fund at that point in time. Over the 3 yrs of marriage the pension grew by 54,000 pounds. hence I really am not clear if in the apportionment calculation if I have to use this figure or the TOTAL fund value at time of separation
which is considerably higher. Independent advice would be very helpful indeed for me
Submitted: 1 year ago.
Category: Scots Law
Expert:  JGM replied 1 year ago.
Thank you for your question. The regulations say you take the total CETV value at the date of separation, multiply by the number of months married, then divide by the total number of months membership in the pension scheme.
Customer: replied 1 year ago.
Thks for reply, but is the apportionment then split between the 2 parties ? I am still not sure on how a payment to my ex wife would be calculated, as it seems using the total CETV at point of separation is my asset and then to apportion relevant amount is surely then split between the 2 parties , if the other party has a pension with very little value ?
Expert:  JGM replied 1 year ago.
The sum arrived at is the sum which falls to be divided between the parties fairly in terms of the 1985 Act. The formula is simply the legal way to calculate a value in the same way that a surveyor would value a house or a stockbroker would value shares.
Customer: replied 1 year ago.
Ok so if I calculate a sum of 60,000 from equation , then that represents the marital asset for inclusion overall with other marital assists to be split accordingly ?
Expert:  JGM replied 1 year ago.
Exactly right, yes.
Customer: replied 1 year ago.
Thankyou
Expert:  JGM replied 1 year ago.
You're welcome. Please leave a positive feedback so that I am credited for my time.