Pension sharing order

BusyLizzy

I am confused! After my divorce I was given 50% of my ex husband's work pension. I am now in a position to be able to pay the hefty admin fee to release this pension. The pension scheme won't allow me to keep the funds with them, and my work pension won't allow me to put the funds with my pension. What do I do?

dunstonh

What do I do?

Transfer it to an individual pension that will accept it. If you have an IFA, they will do this for you. If not, you need to select an appropriate pension type and provider.

Minx1986

Re the hefty fees, you should write to the Adminstrator and ask "if these can be deducted from the 'Pension Credit'". They will caclulate the Cash Equivalent Transfer Value using the relevent dates, (effective date of your divorce and valuation date within the implementation period) and then remove your share of the fee from the value before it is transferred to your chosen provider. Saves you having to find these fees ontop of your divorce fees.