Also known as a PSO, a pension sharing order is a court issued order that states exactly how your pensions will be divided after your divorce. We understand how important it is to set out legally binding agreements about pensions, and we are here to make sorting out your pension sharing order as simple as possible.
The pension sharing process
Because your pension is an asset, just like savings and property, you must include it when calculating your total worth.
During divorce negotiations you must both obtain a valuation of your partner’s pension that is no older than 12 months.
When working out the value of each pension fund, all funds are considered. This means that even if your pension was built up prior to your marriage or civil partnership, it will still be included in the pension share calculation.
How pension shares are calculated
Exactly what percentage of the transfer value of pension you or your former spouse is entitled to is decided by the court, and this is based on the total value calculated the day before the pension sharing order takes effect.
If you require a pension sharing order you must involve the court. Pension providers cannot transfer or divide any part of a pension without this kind of court order.
Offsetting a pension
If a pension sharing order isn’t right for you, the main alternative is called offsetting.
With this option, you can offset the value of the pension against other assets, such as the value of the family home. It is a relatively straight-forward option and help you achieve a ‘clean break’, the same way a pension sharing order would.
Receiving a pension share from your ex
You don’t need to be a member of the same pension scheme as your ex-partner to receive a share of their pension.
If you are receiving your pension share on another scheme, under your own name, this would be referred to as an external transfer. If you are a member of your ex-partner’s scheme, it’s called an internal transfer.
Pension transfer timeframes
Even though you may have already calculated and agreed on the pension sharing order, it won’t come into effect until the decree absolute is granted and your divorce is finalised.
After receiving confirmation that you are divorced, the pension provider has four months to transfer the funds into the correct account.
Starting the process couldn’t be more simple!
- Contact us Get in touch however suits you best and arrange a consulation with one of our solicitors
- Meet an expert You’ll meet the expert solicitor assigned to your case and discuss all the necessary details
- Authorise Once we’ve got all the details of your case and you’re happy to proceed, just give us the go-ahead
- We get to work It’s time for us to get to work! We’ll set up your file on our system and get to work right away
What our clients are saying about us
Our Promise to You
Friendly, personal legal services
We promise that our approachable solicitors will provide you with a genuinely personal service that puts your needs first. Our team of experts are always on hand to give you support when you need it.
Award-winning service in our fields of expertise
We pride ourselves in offering the highest standards of service across each of our legal departments. Regardless of your situation, we promise to provide you with the very best legal advice.
Advice tailored to your needs
We promise to listen to your needs and offer the right guidance for your situation.
There is no ‘one-size-fits-all’ solution in any area of the law. Every case requires a tailored approach and you deserve a solicitor who understands this.
Outstanding customer service and care
Our excellent reputation is built on our exceptional level of client care.
Every case is handled with the highest level of respect and many of our clients go on to recommend us after building an invaluable relationship with our solicitors.
Transparent fees and processes
Transparency is very important to us. We promise to provide you with total Transparencyrency on fees, so you know exactly what you are paying for. We’ll also make sure you’re kept updated on the progress of your case every step of the way.
Get in touch
Let us know how AWH Solicitors can help you by providing us with your details in the form below.
Please let us know when you want to be contacted so we can get in touch with you at a time that suits you best.