Divorce query
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Johnwinston
Posts: 1 Newbie
I'm getting divorced, and need to give my ex c£30k, her pension scheme won't accept lump sum credit. Solicitor advises against earmarking. Can she open a new pension fund, bung the £30k in and then freeze it? Which provider might do this?
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Your scheme may also give her her own account with the money. Is this DB or DC?0
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Under normal circumstances, she can open a new pension plan to accept the transfer. As to which provider she should use, this is down to her choosing. It also depends on on what type of pension scheme you have.Johnwinston wrote: »I'm getting divorced, and need to give my ex c£30k, her pension scheme won't accept lump sum credit. Solicitor advises against earmarking. Can she open a new pension fund, bung the £30k in and then freeze it? Which provider might do this?
I don't know what you mean by "freeze it"?Stephen Covey once said that "when you teach once, you learn twice". That is the primary reason for my participation on the forums as an IFA.
Although I strive to provide accurate information in my posts, there may be the odd time when I fail. Yes I know it's hard to believe but even Your Hero can make mistakes. Apologies in advance.0 -
She certainly would not want her pension 'fozen'. Pensions are meant to be invested to grow over the years to provide a retirement income.0
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