Divorce can be a taxing time for those with A-day protection. Claire Trott, pensions technical manager at Suffolk Life, sets out the key points...
Finance is an inescapable component of any divorce, no matter how amicable it may be. Over the years, the value of pensions has been better realised and they have started to become a bigger part of divorce settlements, often with specialist calculations needed. While some clients might see it as an easy option to give away some of their pension, especially if they have a larger than average fund, for those with A-day protections there are other issues at play that will need to be considered to avoid tax charges at retirement. So, when a pension becomes subject to a pension debit or...
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