Retirement Planning information from Barclays Stockbrokers - Pensions and divorce FAQs
Pensions and divorce FAQs

Pensions and divorce FAQs 

1. We are getting divorced but my partner wishes to come to an informal agreement in respect of Pension rights (and other matrimonial property) in order to reduce solicitors’ fees. Can we do this?
No. It is not possible to assign pension rights except through a court order, unless you are divorcing under Scottish Law.
2. What is a pension credit?
When the spouse or civil partner of a member is given a credit in respect of any pension benefits rising on divorce or dissolution, this is known as a pension credit.
3. What is a pension debit?
When a member has given up part of their benefit to a former partner, this is known as pension debit.
4. I am divorced, but can I still claim some extra state pension on my ex-husband’s National Insurance contributions when I get to state pension age?
Yes, so long as you do not remarry and you have an entitlement to less than the full amount of state pension, you can substitute the record of your former spouse for the period up to when your marriage ended, or the end of the tax year before you reached state pension age, whichever comes first.
5. Can you share or earmark a pension that is already being paid out?
6. Will there be costs for implementing a pension sharing order?
The scheme administrator or pension provider is allowed to charge for dealing with the administration of pension sharing. A schedule of charges will be supplied to you when information about the pension is first requested.

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