Hi Ness
I wonder how many other people are in this situation!!!!
It was a question posed to us when with some friends. When we sat and thought about it, it became more and more alarming!!!
Apparantly, my husband offered £100 per month to her for the rest of her life, but his solicitor ruled that out.
I am not sure what your best form of attack on this is.
I think there should be a massive campaign concerning the reversal of pensions. What makes me so angry is where does this money go??? if you have paid into a pension you should be entitled to it.
Now, if my husband dies, I get some of his pension. The pension will not stop for her, as she has had her amount allocated. SO If she dies, he loses £50,000. If my husband dies, SHE STILL GETS HER PENSION. FAIR
I just cannot understand why someone should be penalised like this. My husband retired a few years ago, due to ill health, so he was awarded his pension. £25,000 as cash lump sum paid for an extension and paid off ALL HER BILLS AND DEBTS, so she has had some already. When she left he had to get a job 16 hours a week to keep the house and the children, so his earning capacity has now been limited to 16 hours. plus pension!!!!!!!!!
He receives his monthly payment, less £300 which goes into her pot ready for when she is 60.
Perhaps if you could work out how much her pension pot would be, it might be worth taking out a loan. An Army pension is usually a good one. Hopefully Peter from BDM will pick this up and offer some good advice for you.
You and your partner say the same as us, WHY SHOULD THIS MONEY DISAPPEAR, and where does it go. Disgusting.
If your partner knows how much all this will amount to then it might be more tempting for his ex to take a lump sum and leave the pension. I dont know, I do not really know and understand it all.
£50,000 is a lot to lose.
I would be really interested to know what his solicitor says. This is really a huge cause for change.
Sorry I cant help you any more than that Ness, but if it forewarns your partner and he can do something about it, then that at least is one person that might secure any amounts that might just fade into the background.
Keep me updated and good luck.
zara