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pension sharing

  • freddiebear
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03 Aug 17 #495143 by freddiebear
Topic started by freddiebear
Can anyone offer any advice please. is there a time limit for ex to apply for pension sharing? Decree Absolute has been granted and percentage agreed. Also is the amount based on value of pension at time of DA or the value at the time of transfer.

I would appreciate any help

  • WYSPECIAL
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03 Aug 17 #495145 by WYSPECIAL
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presumably you have a Consent Order?

Check what it says but I would imagine it is % at the time of the actual transfer.

  • freddiebear
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05 Aug 17 #495184 by freddiebear
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thank you for your response. Yes percentage and consent order all agreed and DA obtained 3 months ago, but my ex has not yet applied for pension sharing.
i am thinking that if there is no time limit for application it will mean that the amount of money to be transferred will increase.

would welcome any advice

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06 Aug 17 #495209 by WYSPECIAL
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If it's set at a percentage though it doesn't really matter if the value changes.

If the value doubles the amount she gets will double but so will your share.

  • sunoftzu
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22 Nov 17 #497752 by sunoftzu
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Interested in this too. My understanding is that the court sends the sharing order to the agreed pension provider (I have multiple pensions so agreed on one that didn't charge for pension sharing) and the pension provider has 4 months in which to action this (So I have another 6 weeks or so before that deadline). Presumably though the ex has to respond with whether they want to move the money out or have it as another pension. My Ex throughout the divorce process did herself no favours by burying her head in the sand so the relevant letter (if sent) may well be tossed in a corner.

Whilst I appreciate, when the Ex decides do this, has no bearing on the percentage agreed, it does mean that if I want to consolidate all my pensions, it complicates matters. Any ideas as to whether the pension provider can ring fence the percentage or if a decision can be forced?

  • Clawed
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22 Nov 17 #497755 by Clawed
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I had a percentage agreed in my consent order and it was up to my ex to send the original consent order to his pension provider. His pension provider then contacted me requesting a payment to process the sharing order and details of the scheme I wanted my percentage transferred to (there was a default option if I paid but did not provide details of a scheme).
The Pension Provider has 4 months from the time they receive all the requested documents to effect the share not 4 months from receiving the request, both my ex and I replied immediately to all correspondence, provided everything requested and the process still took from Feb 2016 until Sept 2017.

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22 Nov 17 #497758 by sunoftzu
Reply from sunoftzu
Ok thanks, will double check the paperwork as I'm sure my solicitor said it was dealt with by the court by maybe my solicitor sent it on my behalf

(Quite right, double checked and my solicitor actually said they would send it off....checked with the provider who have received the order but as suggested, it doesn't seem to move very quickly)

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