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Divorcee Nearing Retirement

Divorcee Nearing Retirement

I have agreed a Pension Sharing Order against my ex-husband’s pension. I will need a certain and secure income within two years.

Client Circumstances

  • Mrs Samuel is aged 53
  • Mrs Samuel’s children are adult
  • Mrs Samuel is recently divorced
  • She has a Pension Sharing Order against her ex husband’s pension equal to £236,000
  • Maintenance agreed to age 55
  • She has no other income source
  • Her attitude to risk is very cautious

Recommended Solutions

  • Transfer to low cost Stakeholder pension
  • Invest in cash funds only
  • Convert to annuity at age 55
  • Annuity arranged on a single life basis, guaranteed for 5 years

Benefits from advice given

  • Low cost pensions until age 55, minimal charges
  • Cash funds eliminate risk of pension fund falling in value
  • No exit charge on transfer to annuity at age 55
  • Annuity provides certainty of income for life
  • Peace of mind
  • Advice is obtained from a Resolution accredited specialist adviser
  • State pension “substitution” is undertaken via Scrutton Bland

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