My final hearing judgement gave me 47% of husbands pension fund. There are 8 different pensions making up the total fund.
How do we decide which ones to transfer? I assume costs of doing so should be a primary consideration. Do all schemes charge for transfering? Of the 8 pension schemes two are occupational the rest are personal. I also assume it is probably simplier for me to have the personal ones?
All public sector and some private sector pension schemes provide you with the option of a benefit within the scheme, this issue should be explored before deciding as it is the most important in terms of the impact on the benefist you will get.
Yes, the issue of charges, both cost of drafting the sharing order and cost of implementing are also a factor.
Also need to consider what the underlying assets are in any of the money purchase type pensions are.
At the very least, you need a financial advisor to assist you with this.
This depends. Some schemes will let the costs be taken from the transfer values but in my experience these are the minority.
Most ask for payment up front and will not start implementing the pension sharing orders without this and a bunch of other documentation.
Such costs can vary dramatically between schemes. Going back to my previous post a thorough review would check this and confirm which schemes would be most valuable to you and what the associated costs would be.
DM me if you want to know how I might approach this.