Lifetime limit will benefit low earners

Lower earners who have lost out in pension terms as a result of divorce will be able to improve their situation under the Government's proposed lifetime limit pension fund system. Head of pension strategy at Scottish Life, Steve Bee, said under the tax laws of the existing system, members of pension schemes can only accumulate a fixed amount of benefits related to their earnings and length of pensionable service. In the event of divorce, the pension entitlement nominally earned to the divorce date can be split between the member and their former spouse. This can give the spouse a pensi...