The Divorce etc. (Pensions) (Scotland) Amendment Regulations 2008
These Regulations amend the Divorce etc. (Pensions) (Scotland) Regulations 2000 in consequence of the UK government’s resumption of direct responsibility for determining how cash equivalent transfer values (“cash equivalents”) of pension rights are to be calculated. From 1st October 2008, the Actuarial Profession’s GN11 guidance no longer applies and cash equivalents are to be calculated in accordance with rules set out in the Occupational Pension Schemes (Transfer Values) Regulations 1996, as amended by the Occupational Pension Schemes (Transfer Values) (Amendment) Regulations 2008. These Regulations provide for the same methodology to be used for valuation of pensions in connection with divorce or dissolution of civil partnerships.