If you are in the process of a divorce, judicial separation or nullity of marriage, or for dissolution, separation or nullity of a civil partnership you have a number of options.
The Court may offset the value of your pension rights against your other assets in the divorce settlement or it may issue a Pension Sharing Order or an Earmarking Order against your pension.
As a member of USS, if you get divorced, you may wish to note that:
- your ex-spouse or ex-civil partner will cease to be automatically entitled to a widow’s, widower’s or civil partner’s pension should you pre-decease them.
- any children’s pension payable in the event of your death will not be affected by your divorce or dissolution and in fact may be higher if no spouse’s/civil partner’s/dependant’s pension is payable.
- if you nominated your ex-wife, ex-husband or ex-civil partner to receive any death lump sum payable, your nomination will remain in force until you change it. The Court may, however, issue an Earmarking Order stating that all or part of any lump sum death benefit is payable to your ex-spouse or ex-civil partner.
During proceedings for divorce, judicial separation or nullity of marriage, or for dissolution, separation or nullity of a civil partnership, you will be required to obtain the cash equivalent transfer value (CETV) of your pension rights from USS, which the Court will take into account in the divorce settlement.
Only the pension rights built up during the period of marriage/civil partnership are taken into account by the Scottish courts although USS will provide a CETV covering the whole period of USS membership. Your legal or financial advisor will determine the proportion applicable to your period of marriage.
The Court may offset the value of your pension rights against your other assets in the divorce settlement or it may issue a Pension Sharing Order or an Earmarking Order against your pension.
Please note:
USS can not offer financial or legal advice. For further details on the impact of divorce to your pension please refer to Factsheet Twenty - Divorce Charges may apply to the provision of information for divorce purposes, check the schedule of charges for details.
If you wish to change your death benefit nomination (as to who receives any lump sum life assurance benefits) please complete a new Registration of Potential Dependant Form
If you do not have a spouse or civil partner, you may choose to register a financial dependant to receive the equivalent of the spouse’s/civil partner’s pension.