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Division of pensions

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Reborn2020
Posted by
Junior Member

23 Jan 22 #518647 by Reborn2020

Topic started by Reborn2020

What are your thoughts on sharing one main pension instead of 5 individual ones? Add all pension value together and split a large final salary pension accordingly, saving 5 lots of charges.

hadenoughnow
Moderator

23 Jan 22 #518650 by hadenoughnow

Reply from hadenoughnow

The usual approach is to share the biggest pension or to hand over one or more of the smaller ones in their entirety.
Remember final salary pensions are generally more valuable than other types.
Whether or not it is sensible to do a straight sum based on CEVs depends on the value of the combined pension pot and the type of pensions in it.
For a pot worth more than say £100k, you would really need an actuary to work out how to equalise incomes in retirement.

Hadenoughnow

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