Pension Sharing Scheme

deece1

Hi,

As part of a divorce court order, I will receive 50% of my ex-spouse's work pension. I have been contacted by the provider, Mercer, who explained that I could not keep the mortgage with them and needed to move the pension to another provider.  To do this both my ex-spouse and I will have to pay £1,200 each to the trustees.  Does this sound right?

Any advice would be great.

Thanks.

Silvertabby

deece1 said:

Hi,

As part of a divorce court order, I will receive 50% of my ex-spouse's work pension. I have been contacted by the provider, Mercer, who explained that I could not keep the mortgage with them and needed to move the pension to another provider.  To do this both my ex-spouse and I will have to pay £1,200 each to the trustees.  Does this sound right?

Any advice would be great.

Thanks.

I presume that Mercer's have said that you can't keep your pension with them, rather than your mortgage?

Yes, the £1,200 each (for processing the pension sharing order) sounds feasible.  This is just about the most complicated - and thus expensive - calculation that any pension fund administrator can carry out.