dcsimg
final group
 

Please note that the questions and answers below are worded in respect of divorce. However, they’re equally valid in the case of a dissolution of a civil partnership.

Filter

As your PSO has already been implemented by your former scheme, your compensation won’t be affected further.

In line with legal requirements, we’ll need to implement the Order. Once implemented, we’ll let you know how this affects your compensation.

You’ll now become a member of the PPF and will receive a welcome pack explaining how much compensation you’ll receive and when it will be paid.

In line with legal requirements, we’ll need to implement the Order. Once implemented we’ll let you know how much compensation you’ll receive and when it will be paid.

The court can make an Order so that your compensation can be shared with your former spouse/civil partner. This Order is known as a Compensation Sharing Order, and is different from the Order you would have required had your former pension scheme not transferred to us. Please contact us for further information regarding this matter.

Yes. You can write to us at:

Pension Protection Fund
PO Box 254
WYMONDHAM
NR18 8DN

If as part of any divorce proceedings you’re asked to provide a valuation of your compensation benefits, you should ask us for a Cash Equivalent Value (CEV). This is the value of your benefits from the PPF as a lump sum.

It’s not within the remit of the PPF to estimate the compensation that may become payable to a credit member following the issue of a Compensation Sharing Order (CSO). An independent financial advisor may be able to estimate the potential compensation credit payable based on the CEV supplied by the PPF and the assumptions provided on the professional pages of the PPF website. However, caution is advised as, due to the variable factors involved, the CEV can vary significantly between the provision of the original CEV, the issue of a CSO, and the eventual implementation of the Order.

A CSO is a Court Order splitting the compensation you’re entitled to between you and your ex-spouse, who’ll then become a PPF member with their own entitlement to PPF compensation. We’ll write to you in due course to let you know how this will affect your own compensation.

Further information is available in the ‘Sharing your compensation if you divorce or end a civil partnership’ booklet here.

This means that, as a result of a Compensation Sharing Order (CSO), you’ll become entitled to a share of your ex-spouse or civil partner’s compensation. When the Order is implemented, you’ll become a member of the PPF and we’ll let you know how much compensation you’ll receive and when it will be paid.

Details of your compensation amount would have been sent to you when we shared your ex-spouse’s compensation. Please contact us if you’d like to know what this amount is now.

If part of your pension was earmarked by the court, this means that part of your compensation will become payable to your ex-spouse or civil partner when you retire. We’ll automatically take this into account when paying your compensation.

The PPF will act on the earmarking order in the same way as the previous scheme would have done and will make any payments to you directly. You should keep us informed of your address so that we may contact you at the relevant time.

If your ex-spouse’s compensation is already in payment, you should keep us informed of any changes to your bank account details.

Yes. However, any changes to your own circumstances will have a direct impact on what your ex-spouse receives. This isn’t the case with a Compensation Sharing Order (CSO).

Print Page