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JGM
JGM, Solicitor
Category: Family Law
Satisfied Customers: 11141
Experience:  30 years as a practising solicitor. Partner in own firm.
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Can you explain what is pension sharing is, this is part of

Resolved Question:

can you explain what is pension sharing is, this is part of something I will have to sort out as part of a financial agreement when I divorce my wife. Also when I die my pension goes to my wife but not if we are divorced. Is there a way to arrange that to happen even though we are not married.
many thanks
Submitted: 2 years ago.
Category: Family Law
Expert:  JGM replied 2 years ago.
Thank you for your question.
Pension sharing is a statutory creation whereby a divorcing couple can share one or both of their pensions as part of the division of assets.
The court grants an order for a pension share and the pension company transfers the portion of one pension into a pension scheme in the name of the other party. The value transferred is taken into account when considering the overall split of assets.
As regards ***** ***** part of your question, any issues regarding the death in service benefits of a pension scheme would have to be examined having regard to the scheme and the policies of the pension trustees. If you aren't married a specific nomination may be required but you would have to ask the pension scheme administrator about this as all schemes are different.
I hope this helps.
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