In my previous blog I highlighted the issues surrounding Public Sector Pension Sharing Scheme Changes in the Local Government Pension Scheme.
Now the good people at BDM Actuaries have produced a really useful factsheet showing how this is going to be a wider issue for all Public Sector Pension Schemes.
It is essential reading for anyone advising on public sector pension sharing or those going through divorce with such a pension in their financial settlement.
You can find a copy here – Public Sector Pension Scheme Changes – Proceed with CARE
Public Sector Pension Sharing Changes
Their table – Public Sector Pension Scheme Changes – summarises the expected impact of the changes, the most significant of which are:
- the differences in Normal Pension Ages.
- a shift from pension plus automatic lump sum to 100% pension.
Public sector pensions are in my opinion one of the most risky to advise on in divorce settlements.
Care should be taken to ensure that the outcomes you are expecting actually come to pass.