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20 May 2013
Wife keeps overpayment of pension made as part of divorce settlement
The Pensions Ombudsman has determined that a divorcee need not repay to Scottish Widows an overpayment secured in her divorce settlement as a result of an incorrect transfer value provided by the pension scheme administrator, reports Family Law Week.
Natalie McNicholas complained that Scottish Widows, the administrator of her former husband's pension scheme, transferred an incorrect payment, which it then sought to recover from her.
The Pensions Ombudsman determined that the complaint should be upheld because the administrator provided inaccurate information and calculated the payment due to Mrs McNicholas incorrectly, as a result of which she entered into a divorce settlement on the basis of incorrect information.
In 2010 Mr and Mrs McNicholas were divorced and, prior to the divorce, information was obtained about the value of his pension in relation to the financial proceedings.
In July 2009 Mr McNicholas' financial adviser sent a request to Scottish Widows for "a transfer value for divorce purposes…" giving Mr McNicholas' correct name and date of birth.
Read the full article here.