I’ve worked all my adult life and am 54. I have a combination of DB and DC schemes and I’ve been with the same employer for 18 years.
I got divorced (absolute in 2022 but separated a long time) and at the time the CETV from all pensions was £450k. Most of this was obviously from my current employer of £340k, a combo of the old DB scheme and the newer DC.
These were the figures that were taken into account during the financial negotiations. However what I didn’t know was that the pension scheme was in trouble and had to be bailed out and is now a mastertrust. And the total value is now only £220k.
Incant get hold of anyone to discuss this with. The pension managers aren’t answering the phone, the admin sends me back to the manager and I’ve emailed as many people as I can, and am awaiting replies.
Does the mastertrust contain the DB bit?
Have I effectively lost £120k just like that?
Fuuuuck!