Quizzes & Puzzles6 mins ago
Divorce And Personal Pensions.
If a couple divorce after over 30 years married, would the wife be able to claim part of the ex husband's work pension?
Answers
1 to 4 of 4
Best Answer
No best answer has yet been selected by cupotee2. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
Yes, if it forms part of the financial settlement
https:/
https:/
Many people having to split their assets on divorce have to have their pensions valued by an actuary and the cash value of that valuation shared.
A friend of mine (who had about ten years left before retirement) had to have his pension valued and transfer half of its value to his ex-wife (as a single cash payment). He paid her from his own cash assets and kept his entire pension intact. This meant she therefore had use of that amount immediately. He did not. He did not want to cash his in (preferring the retirement income instead) but could not have done so anyway as the scheme's rules did nor permit it.
Alas he died two years before retiring and got nothing from his pension, having given half of it away in cash. It's a funny old world.
A friend of mine (who had about ten years left before retirement) had to have his pension valued and transfer half of its value to his ex-wife (as a single cash payment). He paid her from his own cash assets and kept his entire pension intact. This meant she therefore had use of that amount immediately. He did not. He did not want to cash his in (preferring the retirement income instead) but could not have done so anyway as the scheme's rules did nor permit it.
Alas he died two years before retiring and got nothing from his pension, having given half of it away in cash. It's a funny old world.
1 to 4 of 4
Related Questions
Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.