The Department for Work and Pensions yesterday (8 February 2016) published new information regarding the new arrangements for State Pension sharing being introduced on 6 April 2016, and how they will affect those who reach State Pension age from that date.
Primarily aimed at legal and financial advisers, as well as the courts who will make State Pension sharing orders, the comprehensive information note aims to help its audience manage the transition from the current system to the new one commencing in April. It also seeks to explain and make clear the new arrangements for administering and implementing State Pension sharing on termination of marriage or a civil partnership. The information covers both divorce and nullity of a marriage and the dissolution and annulment of civil partnerships, including overseas proceedings.
The information note comprises 10 sections concerning the new arrangements. These are:
(a) The new State Pension;
(b) Existing arrangement for State Pension sharing on divorce;
(c) The new State Pension in transition;
(d) State Pension sharing on divorce etc during transition;
(e) Who the changes will affect;
(f) Valuations of State Pensions under the existing arrangements;
(g) Valuations of State Pensions under the new arrangements;
(h) Valuations of State Pensions under the transitional arrangements;
(i) Scotland; and
(j) Information available for individuals.
The information note is available in PDF format to view and download here.