L&G adds feature so trustees do not have to alter rules for divorced couples
Legal & General has added to its Section 32 Buy Out policy, allowing it to accept pensions credits from ex-spouses. The change also includes any safeguarded rights in respect of contracted out benefits. Andy Agar, pensions marketing director at Legal & General, said the added feature is designed for pension scheme trustees where their scheme rules do not cater for pension entitlements to be held by anyone other than the current or former employee. He said many trustees did not want to alter the rules of their schemes to allow them to hold the policies of ex-spouses, and added th...
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