Pension Sharing – The receiving scheme insists you take financial advice
Posted September 6th, 2010
Pension sharing is a confusing and complicated part of any divorce settlement and there are many issues to be aware of before proceeding. Some examples include:
- The fairness of a cash equivalent transfer values (CETV).
- Internal transfer or external transfer?
- Moving target syndrome?
- Default options.
Therefore, it was a refreshing change to be contacted by a client this week who had received notification from her pension provider (Prudential) that she HAD to take financial advice before they would agree to accept the pension sharing order.
To avoid the pitfalls above it is important to take financial advice from a competent adviser, preferably one who is a Resolution Accredited Independent Financial Adviser (See link here). You may also wish to employ the services of an actuary that advises on pension and divorce cases.
If this is you and you are looking for financial advice on a pension sharing matter or if you require further information, please contact me on 0800 092 1229 or email advice@thedivorceifa.co.uk
