by Mary Waring | May 30, 2013 | Divorce/separation, Pensions
For many couples who are going through a divorce, the pension may be the 2nd biggest asset after the family home. It’s therefore vital that professional advice is taken as to what options are available for the pensions and which option is the most appropriate for you,...
by Mary Waring | May 1, 2013 | Financial Planning, Pensions
It’s not at all uncommon for clients to have a large number of different pension pots which have been accumulated over a number of years, all with different providers. Often you start a pension with an employer but then when you change employment leave that pension...
by Mary Waring | Apr 26, 2013 | Financial Planning, Pensions
To be eligible for a full state pension you need to have paid or received credit for National Insurance Contributions (NIC) for a minimum of 30 years. For each year less than 30, your full state pension is reduced by 1/30. That means that if you’ve paid NIC for...
by Mary Waring | Apr 15, 2013 | Divorce/separation, Pensions
Pension sharing is available where divorce proceedings began on/after 1st December 2000. The court will split the pension fund between the 2 parties, and the relevant part will be transferred from the scheme member to a pension fund in the name of the ex spouse. The...
by Mary Waring | Apr 14, 2013 | Divorce/separation, Pensions
Earmarking was introduced for petitions for divorce filed on/after 1st July 1996. Under this method the court allocates a specified portion of the scheme member’s lump sum, death benefits and income entitlement to the ex spouse. This is evidenced by an order from the...
by Mary Waring | Apr 13, 2013 | Divorce/separation, Pensions
Offsetting is the most common option used when dealing with pensions on divorce since it allows a completely clean break between the divorcing parties. Under this method the transfer value of the pension is included with the value of all other matrimonial assets. The...
