Pension Sharing on Divorce
A pension share essentially involves an order that a part (or the whole) of one party’s pension or pensions is transferred to the other.
Independent financial advice is often taken to consider the relevant options which include:
- An internal transfer – this means that the pension share remains within the existing pension scheme; or
- An external transfer – where the pension credit is transferred out of the existing pension scheme and invested in a new pension of the receiving party’s choice.
James Maguire & Co are not independent financial advisers but we have links to specialist pension experts who can assist with the relevant pension options and the implementation of any pension sharing order.
When considering a pension share it is important that the pension valuations used are fair and accurate and special care must be taken where the pensions are perhaps unusual in nature, for example, a final salary scheme or public sector pension.
For a consultation with a specialist family solicitor please contact James Maguire by telephone +44 (0) 1625 529456 or by email email@example.com
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