If you get divorced from a marriage or registered civil partnership, your Pace benefits will be included as part of your assets.
What actually happens to your benefits depends on how the total assets of the marriage are split as part of the divorce settlement. If the court orders the pension benefits to be shared between the couple, there are three ways this can happen:
- Your pension rights can be offset against other assets.
- Part of your pension rights can be ‘earmarked’ and paid to your ex-spouse (which includes a registered civil partner) when you retire.
- The value of your pension rights can be divided at the time of divorce (pension splitting). In this case, your ex-partner’s or registered civil partner’s share will generally be transferred to another pension arrangement.
If you want more information, please contact the Pensions Department.