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Help wanted re a pension, please!
colmil
Posts: 1,462 Forumite
I am separated from my wife, and now that I am 60 I am starting to receive payments from pensions, the important thing to note is that they have all been taken out in my name.
With the first one, I have received a lump sum and about £600 per year to
come.
I have given my wife her half of the lump sum but, as I wish to become divorced, would the £600 a year die with me, thus depriving my wife of her share?
If this is the case, apart from staying married, can anyone suggest what to do?
I could offer my wife a lump sum in full payment but this would prove expensive as there are other pensions still to come.
I look forward to your replies.
With the first one, I have received a lump sum and about £600 per year to
come.
I have given my wife her half of the lump sum but, as I wish to become divorced, would the £600 a year die with me, thus depriving my wife of her share?
If this is the case, apart from staying married, can anyone suggest what to do?
I could offer my wife a lump sum in full payment but this would prove expensive as there are other pensions still to come.
I look forward to your replies.
Filiss
0
Comments
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If the total value of all your pension is under £15,000, you could wait until april 06 and take the whole lot as a lump sum.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Thanks, Dunstonh, I obviously was not aware of that.Filiss0
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Your wife could claim for a pension sharing order if you divorced.
This would allow her to claim a share of any state additional pension that you have as well as any private pensions that you have.
Typically the award given is 50%.I no longer work in Council Tax Recovery but instead work as a specialist Council Tax paralegal assisting landlords and Council Tax payers with council tax disputes and valuation tribunals. My views are my own reading of the law and you should always check with the local authority in question.0 -
You need to speak to a solicitor.0
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