Pension sharing in a defined benefit scheme
The procedure here is much more complex and is best explained by way of an example.
If we have a case where the husband (who I will call Mr H) is an active contributing member of a Final Salary scheme
His current annual rate of pay is £30,000 at 1 January 2021.
His normal retirement age is 60 and Mr H is age 50 now.
The accrual rate for pension benefits is 1/60 x final pay for each year of service.
His service in the scheme at 1 January 2021 = 20 years.
Hence Mr H’s accrued pension at 1 January 2021 = 1/60 x 20 x 30,000 = £10,000 per annum (although this is not payable in full until he reaches the normal retirement age of 60).