Divorce

In these calculations, the value of pension from the firefighters’ pension schemes is shown as a cash equivalent transfer value.

Once the divorce is agreed, a split of the pension is listed on a pension sharing order. This creates a pension debit on the member’s record and a pension credit for the ex-spouse.

If the value of the cash equivalent transfer value changes because of remedy, the calculations in the pension sharing order would need to be revisited. 

Some of the key points are:

• The pension debit that is applied to the member’s pension will be adjusted accordingly depending on the remedy choice that they make.
• The remedy choice made by the member has no effect on the pension credit that is awarded to the ex-spouse. Pension credit is simply the term that determines that the ex-spouse has an entitlement to a portion of the pension. The value of the credit is determined by the pension sharing order.
• The pension credit that is awarded to the ex-spouse will always be based on the higher of the two cash equivalent transfer values – either before or after the remedy choice is made. This does not cost the member anything and nor do they have a higher debit applied because of this.