Pension and divorce

Ado_3

Sorry if this question has been posted before.
My wife and I are getting divorced after a long marriage, I have 2 pensions, a works pension and a non contributory pension, is it possible to transfer the non contributory pension over to my wife ? I have heard that to start to divide up my works pension would be very costly is this right ?.

atush

Possibly not. What kind is the second pension? Many pension splits are done at low cost via the provider who splits the pot into two different names.

The non contributory one sounds like a DB pension, and is the more valuable one perhaps. How you split pensions is, you get the value of both (a cetv value for any DB pensions) add them together then divide by 2.

Some pension value can be traded for a larger split of liquid assets/property but I would never recommend the less paid spouse to do so (as it is harder for them to build up further pension)