Charlene Young: Retirement options after pension sharing orders

When a client receives a pension sharing award from their ex-spouse, the funds are known as a "pension credit". In England, Wales and Northern Ireland, a pension credit is calculated as a percentage of the ex-spouse or civil partners pension fund(s) and the value transferred to a pension in the client's own name. In Scotland, the pension credit can also be noted on the sharing order as a monetary amount. The client will be able to transfer to another scheme of their choice if the credit is from a personal pension or private sector occupational scheme. Where the credit is coming from a...