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Pensions and divorce or dissolution Pension sharing If you get divorced or end your civil partnership, the court can look at your additional State Pension as a financial asset. This is money you have

How to fill out pension sharing

How to Fill Out Pension Sharing:

1. Gather all necessary documents: Before starting the process, make sure you have all the required documents related to your pension. This may include your pension statements, divorce decree or dissolution of civil partnership, and any relevant financial information.
2. Understand your pension scheme: Familiarize yourself with the specific rules and regulations of your pension scheme. Different schemes may have different procedures for pension sharing, so it's important to be aware of any specific requirements or limitations.
3. Seek legal advice: It is highly recommended to consult with a legal professional who specializes in pensions and family law. They can provide guidance on the pension sharing process, ensure your rights are protected, and help you navigate any complex legal aspects.
4. Complete the Pension Sharing Annex: The Pension Sharing Annex is a form that needs to be completed and submitted to the pension scheme administrator. This form includes information such as the percentage of pension sharing, details of the ex-spouse or partner, and any specific instructions or considerations.
5. Inform your ex-spouse or partner: Once the Pension Sharing Annex is completed, you need to provide a copy to your ex-spouse or partner. This allows them to review the information and seek independent financial advice if needed.
6. Submit the Pension Sharing Annex: After ensuring all the necessary details are filled out correctly, submit the Pension Sharing Annex to the pension scheme administrator. They will then process the request and make the necessary arrangements for the pension sharing.

Who Needs Pension Sharing:

1. Divorcing couples: Pension sharing is often necessary for divorcing couples who have accumulated pension assets during their marriage or civil partnership. It allows for a fair division of these assets, ensuring both parties receive a portion of the pension benefits.
2. Dissolving civil partnerships: Similar to divorcing couples, pension sharing is also relevant for individuals dissolving their civil partnerships. It ensures a fair distribution of pension assets accumulated during the partnership.
3. Individuals with qualifying pensions: Pension sharing applies to individuals who have qualifying pensions, such as workplace pensions, personal pensions, or self-invested personal pensions (SIPPs). It allows for the division of these pensions in accordance with the pension sharing order or agreement.
4. Individuals seeking financial independence: Pension sharing can be particularly important for individuals who are financially dependent on their ex-spouse or partner. It enables them to receive a portion of the pension benefits, providing an additional source of income and increased financial independence.
5. Anyone eligible for pension sharing: Pension sharing is available to individuals regardless of gender, and it can be initiated by either party involved in a divorce or dissolution of civil partnership. It provides a legal framework for a fair distribution of pension assets between separating or divorcing couples.

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What is pension sharing?

Pension sharing is the process of dividing a pension between spouses or civil partners during a divorce or dissolution of a civil partnership.

Who is required to file pension sharing?

Either spouse or civil partner going through a divorce or dissolution of a civil partnership may be required to file for pension sharing.

How to fill out pension sharing?

To fill out pension sharing, the individual must provide detailed information about their pension arrangements, including the value of the pension and how they wish to divide it.

What is the purpose of pension sharing?

The purpose of pension sharing is to ensure that both spouses or civil partners receive a fair share of the pension assets accrued during the marriage or civil partnership.

What information must be reported on pension sharing?

Information such as the value of the pension, the proposed division, and any relevant financial circumstances must be reported on a pension sharing application.