Justin Corliss, Senior Business Development Manager at Royal London, talks about:
If the scheme does not allow the ex-spouse/civil partner to become a member, the transfer value can be paid to a personal pension. If the pension credit is coming from an occupational scheme, a Section 32 will also be an option.
The value could also be transferred to a scheme the ex-spouse/civil partner is already a member of, if the rules of the receiving scheme allow.
Major changes to the tax charges that apply to benefits paid on the death of a pension scheme member took effect from 6 April 2015. This article explains how the funds were treated.
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