Pension sharing order

[garnery]

Asking if anyone has any experience of RM pensions following PSO (pension sharing order). One of my friends, also RM employee had a pso over 10 years ago. His pension had approx 15% reduction at that time. Each year since then he has received a statement. His last statement for NRA 60 was around 12k per year, however he has now asked for his pension to be paid as he is approaching 60 & the figure has dropped to 8k. He obviously contacted them & was told the reason was due to the PSO. He assumed that his statements for the last decade would have already taken the pso into account. Has anyone any experience of this? Thanks

[jasperlad]

Hi, I went through the same thing.
Unfortunately the annual pension statements and even the initial Pension estimate does not include any PSO reduction, you only find out what the reduction is when you have decided to take your pension and they send out the final figures.
Your friend should have received a statement from RMPP showing the effect (both percentage and actual cost) of the PSO at the exact moment when it was implemented by the courts. Sadly the reduction increases in line with annual pension rises.

[NWpostie]

Another reason why you shouldn't get married, go after her pension as well or get a legally binding pre nup if you nuts enough to do so.

[garnery]

Thanks for the reply. A decades worth of statements that dont reflect the amount he will actually receive seems unfair. I appreciate you taking the time to explain. Cheers