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Pension Sharing Order

  • Confused2
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31 Oct 10 #232051 by Confused2
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Maggie, the total implementation charge for the Sharing Order was about £635 (earlier this year). Afraid I don't know the answer to your subsequent question a) because I'm the existing (not new) member and b) 4 months down the line I've received no confirmation that the order has been implemented. I've written to the administrator this afternoon.

Although what the new pension credit member receives if no longer my concern, I am intrigued to know what final pension might be projected should anyone else wish to share. I'd assumed that it would just be the fund value to be realised in x years time at various possible growth rates.
C2

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31 Oct 10 #232067 by maggie
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My interest exactly - sad innit-
is the new pension that's carved out of the original defined benefit pension
[edited to add] and retained within the scheme, is it treated as an AVC/money purchase pension, with all the risk on the pension credit member - no "pension promise" don't know what you're getting til you retire...?
It's complicated [and boring] but my ex and I both thought I'd get some sort of pension promise/pension income guarantee by sharing his defined benefit pension - finding that I wouldn't after they'd told us I would - still makes me mad.
I still think it's rotten that defined benefit schemes can get rid of their liabilities by shortchanging pension sharers.

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