When your life changes...
... it is important that you let the RBP administrator, Broadstone, know. This will help to avoid delays in payment of any benefits due to you and/or your dependants.
Please select from the list below to see how some life changes could affect your pension. You can also read more in your Member Guide.
Keep in mind, that this will not happen automatically – you will need to write to the RBP administrator, Broadstone with a request for early payment of your retirement balance on the grounds of ill-health. You can find Broadstone's contact information on the contact details page.
Please see your Member Guide for more information.
If you are going through a divorce or the dissolution of a civil partnership, you will need to tell the RBP administrator, Broadstone. This will help to avoid delays in payment of any benefits due to you and/or your dependants.
As part of your divorce or dissolution, your retirement balance is likely to be considered along with your other assets when financial settlements are worked out.
How your retirement balance could be shared out
There are three ways a Court could decide to share your pension assets:
Pension Offsetting
With Pension Offsetting, you keep your pension assets to yourself in their entirety while something else of the same or similar value, such as property, is awarded to your ex-spouse or former civil partner. If your situation changes in the future and you re-marry or die, your offsetting agreement won't be affected.
Pension Offsetting might be a particularly good option if you and your ex-spouse or former civil partner have similar pension provisions in place, or overseas pensions that need to be split. This is because international pension assets cannot be shared via a UK court order.Pension Attachment Order (Earmarking Order)
The Scheme must accept an Earmarking order if it is made against one of its members.
With this option, when you take your benefits, a certain amount that is agreed by both parties and approved by the Court will go to your ex-spouse or former civil partner. The amount could also include a portion of your lump sum death benefit and/or your retirement lump sum. The payments will be made directly to your ex-spouse or former civil partner when you decide to take your benefits. The State Pension is not included in it though.
If you die before you start taking your benefits, your ex-spouse or former civil partner will not get the share awarded to them. They may however, still receive some of the lump sum which could be paid out when you die.
If your ex-spouse or former civil partner remarries, enters a new civil partnership or dies before you, they will no longer be eligible to receive any of your pension payments awarded to them and they will be re-instated to you. However, they may still be entitled to a retirement lump sum.Pension Sharing Order (PSO)
Pension Sharing provides a clean break between both parties at the time of divorce or ending of a civil partnership. This is because assets are split immediately and it is up to both parties to decide what to do with their shares independently.
With this option, a one-off payment that is agreed by both parties and approved by the Court, is made from your pension assets to your ex-spouse or former civil partner at the time of divorce or ending of a civil partnership. Their share is taken off the total amount of your pension assets - this is known as a 'pension debit'. Your ex-spouse or former civil partner receives their share, known as the 'pension credit' as soon as the order is finalised.
Once the payment has been made, your ex-spouse or former civil partner will have no further claim to your pension assets.
The amount they receive from you will need to be transferred to another pension arrangement.
Your State Pension in divorce
Your basic State Pension will not be shared if your marriage or civil partnership ends.
However, if you reached State Pension age before 6 April 2016, your ex-spouse or former civil partner could use your National Insurance contributions to increase their basic State Pension. This is only valid, though, if they do not remarry or enter a civil partnership before they reach their State Pension age.
If you have a 'protected payment' stemming from the additional State Pension, you may to share this with your ex-spouse or former civil partner. However, they would lose this right if they remarry or enter a civil partnership.
Information the Court needs to make a decision
The Court will require details about your RBP benefits, including:
- A CETV (Cash Equivalent Transfer Value) for divorce purposes - this takes into account:
- the value of your retirement balance (or pension in payment if you have retired),
- the value of your ex-partner's dependant pension,
- the value of your death after retirement lump sum, and any additional contributions
- any Scheme Pays Debit(s) - Details of any dependant's pension
- Your period of membership
This information regarding your benefits can be obtained from the RBP administrator, Broadstone.
Please bear in mind that if you live in Scotland, only pensions built up during your marriage or civil partnership matter, which is different to the rest of the UK.
Where to get more information
MoneyHelper.org.uk
MoneyHelper offers free support and guidance on a wide range of financial matters, online and over the phone. There is also a dedicated area of their website which provides support with divorce and dissolution.
Unbiased.co.uk
You can find a register of Independent Financial Advisers (IFAs) on the Unbiased website. An IFA will help you understand your pension, the options available and how to manage your finances.
Gov.uk
On the government website you can check your State Pension age and get your State Pension forecast. This website also offers clear information on a wide range of financial issues.
What to do if your personal circumstances change
If your personal circumstances change, it is important that you let the RBP administrator, Broadstone, know.
You can update some of your details, including your postal address, email address and phone number, in your online myESPS account. Alternatively, you can email Broadstone at Uniper@broadstone.co.uk.
You must tell Broadstone if you:
- marry
- enter into a registered civil partnership
- divorce
- dissolve a registered civil partnership
- remarry
- become financially responsible for any children, or
- have any children who are or become incapable of ever being able to earn a living
You may need to show Broadstone original or certified copies of official documents where relevant.
You may also want to update your Expression of Wish form to reflect your changing circumstances. You can do this quickly and easily in your myESPS account. See the Expression of Wish page for more details.
If you do not give Broadstone the relevant information, we may not be able to pay any benefits due to you and/or your dependants as quickly as we would wish.