In the event of divorce, dissolution of civil partnership, annulment or judicial separation, a Court may order a pension scheme to pay all or part of a member's entitlement to pension to his/her former spouse or civil partner. This could be in accordance with an Attachment Order (sometimes referred to as an Earmarking Order) or under the terms of a Pension Sharing Order.
An Earmarking Order could apply to all or part of your retirement pension, potential lump sum, or possibly your lump sum death benefit. If you have already retired, the Order may require the immediate payment of pension to your former spouse or civil partner. If you are an active or deferred member, the Order would not have effect until the benefits become payable.
A Pension Sharing Order would have immediate effect. The Court would instruct that a percentage of the value of your benefits should be deducted and transferred to a pension credit account, which would be set up for your former spouse or civil partner (who then becomes a 'pension credit member' of FPS 2015).
In order to provide the Court with the necessary pensions information, you will be required to provide a Cash Equivalent Value of your pension benefits in the FPS 2015. If this is the case, please contact the Dyfed Pension Fund to make this request.