DIVORCING couples with pension policies that need to be taken into account when their assets are split, have already been warned that they will have to pay an additional cost for the arrangement of a Pension Adjustment Order from the courts. This potentially includes paying pension trustees for compiling information about the pension(s) and cost of the court administering the order.
One of the specialist actuarial firms, set up to handle the splitting of pension assets, The Pensions Settlement Bureau, headed by the former head of, Norwich Union's Life division, Mr John McCarthy, is offering an initial pension appraisal and valuation service for £250 plus VAT. "Spouses of people with pension rights can then ascertain whether it is worthwhile incurring the additional costs of obtaining a Pension Adjustment Order.
"Some users of the service to date have discovered that their rights are worth tens of thousands of pounds and others have obtained information relevant to incorporating an allowance for pensions rights in a negotiated settlement," says Mr McCarthy.
The Pensions Settlement Bureau can be reached at (01) 846 2507 or by e-mail: jmccartindigo.ie
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