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Topic:
Serving a pension holder (3 Posts)
Started By:
Date:
24 November, 2017 02:35PM
Serving a pension holder
jill_of_all_trades - 24 November, 2017 02:35PM
Court has signed off on the financial order and the decree nisi. I am waiting for the absolute at which point my solicitor will be notifying my husband's pension holder that a portion of his pension needs to be transferred to me. I can more or less guarantee the ex will not be very excited about finding the time to get this done within the statutory 4 months.

I cannot afford the fees to chase this within the next two years. What are the consequences of not pursuing this in a timely fashion? The papers I have imply that it would be in my financial interest to have X percent in 2 years rather than X percent now. Is this really the case or is the X percent at the date the actuarial report was done?
Re: Serving a pension holder
Andyk - 24 November, 2017 03:24PM
To get part of the pension transferred to you will require a Pension Sharing order to be approved by the courts which will be sent to the pension provider who will contact you to see where you want your payment made (it will have to be into another pension plan, it cant be to yourself).
Re: Serving a pension holder
davidterry - 25 November, 2017 10:59AM
>> I am waiting for the absolute at which point my solicitor will be notifying my husband's pension holder that a portion of his pension needs to be transferred to me.

If pension sharing is appropriate then it is not usually sensible to get decree absolute before the pension sharing order has been made. That is because if your husband were to drop dead before decree absolute you would almost certainly be entitled to automatic consideration for benefits from his pension because you would have been a dependant at the date of his death. On the other hand if you seek decree absolute before you have obtained a pension sharing order and he drops dead afterwards you get nothing from his pension and you will not be able to get a pension share after his death. It is not normally prudent to take this risk if any significant sum is at issue.
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