Pension Sharing on Divorce was introduced in December 2000 under the powers in the Welfare Reform and Pensions Act 1999. As part of the divorce process, the assets of a marriage or civil partnership are identified and agreement is reached about how these assets or their cash value, are to be shared. Pension rights accrued by either, or both parties, may now be shared.
Where a marriage or civil partnership has broken down and the parties have separated with a view to divorce then the first stage when a pension sharing agreement has been identified as an option (usually when one or both of the parties concerned has taken advice from a solicitor) is for the scheme member to request a Cash Equivalent Transfer Value (CETV) of their pension rights in the scheme.
The following link to Schedule of charges for Pensions on Divorce or the Dissolution of a Civil Partnership from 1 April 2016 provides information and costs involved.
Queries and requests for information should be directed to HSC Pension Service.