Divorce

Do you know anyone who may be involved in a divorce? 

I know its not usual to enquire about their financial settlement at an early stage.

It could be very helpful if you did, as it seems that a majority of divorcing couples are relying on their Solicitors to value the pension benefits.  

As pensions are a very complex area of finance, with a wide range of rules and taxation, Solicitors are not generally understanding but instead are relying on the pension trustees or providers to supply the answers.   

Clearly the pension trustees and, in some cases, the providers, have a vested interest. 

It is important that specific pension advice is sought, to avoid costly mistakes. 

We can help ask the right questions and get better, fairer outcomes.

Pension Death Benefits :  NEST

I have only recently been told that the death benefits under NEST should have Nominations for Death Benefits added, as the fund otherwise would go to the member’s estate, where it could be subject to taxation.

As NEST pensions are the preferred pension for many employee schemes it would be helpful if you let any members of the family or friends  know.  It’s a simple matter to obtain a Nomination form directly from NEST

For those friends or family who are in employee schemes or have retained benefits, it is advisable for them to check the Scheme Rules.