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A SIMPSON FINANCIAL SERVICES COMPANY

What is a pension sharing order?

A pension sharing order is a legal framework for dividing pension benefits between divorcing or separating spouses. Essentially, it specifies how a pension is to be split, ensuring that both parties receive their fair share.

There will be a pension sharing annex attached to the order, which details the specific percentage of the pension fund that needs to be transferred.

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How does a pension sharing order work?

  • The Courts award a pension sharing order (dictating how the pension should be split) and pension sharing annex (which details the percentage split) - these come as documents which are stamped by the Court.

  • The pension credit awarded to the spouse is usually transferred to another pension scheme.

  • As independent financial advisers, we’ll assess your financial and personal circumstances, priorities and goals and make recommendations as to the best pension policies available to receive your share of your ex-spouse’s pension fund.

  • We will also carry out an investment risk assessment with you so we can advise you on the best types of assets to invest in such as cash, fixed interest bonds, equities and property. Please note, the value of investments can go down as well as up, and you may get back less than the amount invested.

  • We’ll implement the pension sharing order within the time permitted, either by setting up a brand new pension policy for you or transferring the pension credit into an existing scheme in your name. All we’ll need is a copy of the pension sharing order and pension sharing annex.

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Simpson Financial Services Limited

Registered in England and Wales under Number 4830621. Registered Address: 23a Cross Street, Leamington Spa, Warwickshire, CV32 4PX

Pensions & Divorce is a trading style of Simpson Financial Services Limited which is authorised and regulated by the Financial Conduct Authority. We are entered on the Financial Services Register Number 472031 at https://register.fca.org.uk The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK.

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