three generations

I have seen many cases over the years of cases where the pension sharing order has not been implemented for some time (several years in some cases) due to the recipient not nominating a pension arrangement to which to transfer the benefits to.

This is not be recommended normally but a recent case in which we were assisting with implementing a pension sharing order would have led to a significant additional cost.

The trustees quoted a fee for implementing a pension sharing order; however there was an additional fee of £900 + VAT fee if the trustees were not able to proceed with the implementation immediately i.e. the former spouse had not taken advice as to where to transfer the benefits to.

This shows that there can be as many problems in implementing pension sharing orders as there are in deciding how to divide the pensions in the first place and of the importance of the clients being referred to an experienced financial planner as soon as possible when it becomes apparent that a pension sharing order may be awarded.

We would be delighted to assist your clients with the implementation of pension sharing orders and offer clients an initial discussion without cost or obligation.

Should you have any queries then please do not hesitate to contact me.

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