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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


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Pension Sharing - ages and payments

  • maisymoos
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22 Mar 12 #319464 by maisymoos
Topic started by maisymoos
I am asking this question on behalf of another wilkipeep.

Wife 63, husband 55

If the wife were to get a pension sharing order in respect to stbx pensions when would it be payable? When she reaches 65 or when husband reaches retirement?

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22 Mar 12 #319576 by maisymoos
Reply from maisymoos
Bump. Anyone?

  • MrsMathsisfun
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22 Mar 12 #319577 by MrsMathsisfun
Reply from MrsMathsisfun
Once a pension is shared both portions become separate and then it would depend upon the terms of the pension. So if the pension is payable when a person reaches 65 thats when it would be paid, its not linked to the age of the original pension holder

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22 Mar 12 #319588 by maisymoos
Reply from maisymoos
Thank you , that''s a great help.

  • The Divorce IFA
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28 Mar 12 #320497 by The Divorce IFA
Reply from The Divorce IFA
It also depends on the pension involved.

If she gets an internal transfer then she may have to wait until age 65. It will depend on the scheme rules and should be checked.

If it is an external transfer then she could take pension benefits immediately as she is over age 55.

In either case assuming a pension sharing order is granted then it is based on her age and not his.

Regards

Phil

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