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.
- 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
- 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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We will look to carry out a regular review of your circumstances, objectives, needs and portfolio performance to ensure all arrangements continue to be suitable and advise of any changes that may be appropriate.
This example is for illustrative purposes only, based on current legislation and tax allowances. Tax rules and regulations are subject to change.