A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


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.


Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.


pension fund???

  • coliuke
  • coliuke's Avatar Posted by
  • Premium Member
  • Premium Member
More
26 Apr 12 #326744 by coliuke
Topic started by coliuke
Hi,

I asked to split my ex husbands pension due to divorce.Problem is I dont have a pension set up.I been advised in past that better wait as Im working part time.And I know that from this year every employer have to open one for each employee.
And today I found out that open one gonna cost me about 1000 pounds.As my ex doesnt work at the moment,he cant give me cash instead (this was original plan).Can his part of the pension could be transfered to our child trust fund?This really would safe me a lot of time and money.
Thank you

  • Fiona
  • Fiona's Avatar
  • Platinum Member
  • Platinum Member
More
26 Apr 12 #326750 by Fiona
Reply from Fiona
You really need advice from an Independent Financial Adviser with experience of pensions. There are tax concessions on pension contributions to encourage people to save for retirement and a pension fund cannot be liquidated or transferred to a different type of investment.

It''s usually possible to transfer your share of the pension to another provider or you may need to become a member of the same scheme albeit with different conditions. An IFA can advise on the different options and which one is best in the given circumstances.

  • coliuke
  • coliuke's Avatar Posted by
  • Premium Member
  • Premium Member
More
13 May 12 #330330 by coliuke
Reply from coliuke
Hi,

Spoke with Independant financial adviser abount my problem.Spoke with man from bank.Both said cant really help me.As recent rules about pensions changing so much.And according IFA no company would agree to take me on as we talking just about 2500 pounds.Help!!!Dont know that to do.Its funny really-by law Im intitled half of his pension but no way to take it.

  • Fiona
  • Fiona's Avatar
  • Platinum Member
  • Platinum Member
More
13 May 12 #330374 by Fiona
Reply from Fiona
If the original plan was for your husband to pay you cash one option would be for him to pay you a deferred lump sum some point in the future when he has a job.

  • coliuke
  • coliuke's Avatar Posted by
  • Premium Member
  • Premium Member
More
14 May 12 #330449 by coliuke
Reply from coliuke
Thank you Fiona,but I dont think its a good idea.He out off job since January and who knows when he will have other one.So I will be waiting that money for ever.Plus I dont thnk he will agree to this too.
I will see my solisitor this week,hope she abble to help me.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11