NAPF updates pension divorce charges

Pension sharing was introduced in the Welfare Reform and Pension Act 1999 and allows the value of pension rights to be divided between a divorcing couple as part of the financial settlement. Under the regulations, schemes may charge reasonable administrative costs of providing information and putting the sharing orders into operation. Without this option other scheme members would in effect cross subsidise the costs of divorce. The system covers all occupational, including public service, pensions, personal and stakeholder pensions and all rights in the State Earnings Related Pension Sc...