NHS Pension Sharing Orders
Posted September 28th, 2010
The NHS has just published its schedule of charges for January 2011 onwards.
It makes interesting reading especially the near 600% increase for implementing a pension sharing order. The charge to implement a pension sharing order goes up to £2,760 from £393.62 (an increase of over 600%).
For full details on the increase to the pension sharing order costs and their other proposed charges – see here.
With the current embargo on cash equivalent transfer values slowing up divorces involving NHS Pensions (see here) there is now a clear incentive to get the pension sharing order implemented before January 2011.
However, the cash equivalent transfer value or cash equivalent of benefit calculations are not available and there is still no guidance coming from NHS Pensions.
For £50 plus VAT we are able via an actuary to provide an indicative value of the value of NHS Pensions to help negotiations.
I wonder if this is the start of increases across all the Public Sector schemes – Fire, Armed Forces, Police, Local Government and others. Is this just a cynical income raiser for the Government?
If you would like further information please contact us on 0800 092 1229 or email advice@thedivorceifa.co.uk
