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Pensions
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If you are married and the marriage is brought to an end by way of divorce proceedings then within those proceedings the court have the power to make a pension sharing order. Pension sharing orders can involve an internal transfer or an external transfer.
A pension fund is valued by obtaining the Cash Equivalent Transfer Value. This is a valuation of what is available in the pot on a given date. It is not treated as capital as it is not possible to take money out of the pension pot. What the court has the power to do is order the pension company to divide the capital and allocate a percentage of the pension pot to the other spouse by way of an internal or external transfer.
Such an order will result in the party without the pension,
often the wife but not always the case, with a pension in their own right.
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