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Pension Sharing Order

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30 Oct 10 #231924 by paulm620
Topic started by paulm620
Recieved my CETV from the NHS,
Who pays the charge for the adminstration and implementation of Pensions Sharing Order?
As up to the 3rd of jan 2011 the charge is £393 and on the 4th of jan 2011it goes up to £2760, :ohmy:
Also this payment will now have to be paid upfront too by cheque.
Any Help please as i am gettin a little anxious about sharing now and wonder which way might be better
thanx
P

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30 Oct 10 #231937 by maggie
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That's one hell of a hike - the charges are usually split between you in the same % proportion as the pension is shared.
Paying upfront by cheque sounds new - I think most have usually deducted the charges from the pension at the date of splitting,
Is the admin.company Capita?

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30 Oct 10 #231939 by paulm620
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Maggie i have no idea who is the admin co,
lucky i was on the loo when reading it otherwise i would have been on the floor,
might be a gee up for stbx`s solicitors

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30 Oct 10 #231941 by maggie
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Just looked at the NHS website - seem to do their own admin.
The NAPF charges referred to in their alert used to be published on the NAPF website but seem to have disappeared??
I think they're doing CETVs again after the CPI change.
Shop early avoid the rush????
The deadline falls around Christmas 2010/New Year 2011 - they charge according to the date they get the pension sharing Order
My solicitor was off the radar for ages over Christmas/New Year when I shared a pension.

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31 Oct 10 #231959 by paulm620
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31 Oct 10 #231987 by Confused2
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I have a LGPS (local government) pension. We had to pay in advance for the sharing. They suggested 50:50, in the grand scheme of things arguing over the current charge could end up with both of you facing significantly higher costs.

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31 Oct 10 #231999 by maggie
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Thanks Confused2 - so we need to get used to the idea pension schemes won't implement the pension sharing order/split the pension until they've got the cheque covering their charges.
Would you mind saying what LGPS charged you to do the implementation?
Hope you don't mind me asking something I've always wondered about with final salary pension sharing when the pension credit is retained within the final salary scheme: when the pension was split did LGPS write to the new pension credit member confirming what the pension income would be at his/her normal retirement date?
What I'm wondering is : does the new pension credit member get a "pension promise" of a guaranteed level of income from the new pension split off from the original just like a deferred LGPS member would?

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