This means that a part of the pension is paid to the other party when the pension is drawn or in payment or following death in service benefits may be paid.
A pension attachment order can be made by a Court and following a divorce. Commonly, a pension attachment order will not take effect for some time as the member of the pension scheme will not have retired. Common problems with pension attachment orders are that they end at the death of a pension member or on the remarriage of the other spouse. A pension earmarking order, might be an attractive option where the death in service benefits are high and a member of the scheme is near retirement. In any case specialist legal advice and independent financial advice (to include, where appropriate, actuarial input) should be obtained so that these issues can be considered properly as well as the other options of pension sharing and pension offsetting.
James Maguire & Co is a specialist firm of Family Law and Divorce law solicitors based in Wilmslow, Cheshire. We offer legal advice to parties going through a divorce including the financial issues which flow from this (including pensions), linked business issues, international aspects and any relevant issues concerning the children.
We advise clients in the Wilmslow area and also to the surrounding areas of Alderley Edge, Bramhall, Hale, Altrincham, Manchester and the North West. We are also able to act for clients nationally and internationally subject to the jurisdiction of England and Wales. For advice please contact James Maguire by telephone +44 (0) 1625 529456 or by email james.maguire@family-law
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