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Divorce Settlement Agreement Pension Fund Template for England and Wales

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Key Requirements PROMPT example:

Divorce Settlement Agreement Pension Fund

"I need a Divorce Settlement Agreement Pension Fund to divide my civil service pension scheme, with a 60-40 split in favor of my ex-spouse, to be implemented by March 2025, incorporating specific provisions for death benefits."

Document background
A Divorce Settlement Agreement Pension Fund is utilized when divorcing parties need to divide pension assets as part of their financial settlement. This document is essential in England and Wales where pension sharing orders are legally recognized under the Matrimonial Causes Act 1973 and subsequent pension legislation. The agreement specifies the exact terms of pension division, including percentage splits, implementation mechanisms, and cost allocation. It's particularly crucial when significant pension assets are involved or when multiple pension schemes need to be considered. The document must comply with both family law requirements and pension regulations to be legally enforceable.
Suggested Sections

1. Parties: Details of both parties to the agreement including full names and addresses

2. Background: Marriage details, divorce proceedings status, and existing pension arrangements

3. Definitions: Key terms used throughout the agreement including pension-specific terminology

4. Pension Sharing Provisions: Core terms of the pension sharing arrangement including percentages and implementation

5. Implementation Timeline: Specific dates and deadlines for implementing the pension sharing order

6. Costs and Charges: Allocation of costs related to implementing the pension sharing arrangement

Optional Sections

1. Additional Pension Arrangements: Used when multiple pension schemes are involved in the settlement

2. Overseas Pension Provisions: Specific provisions for handling international pension arrangements when applicable

3. Death Benefits: Provisions regarding death benefits and nominations in pension arrangements

Suggested Schedules

1. Schedule 1: Pension Details: Detailed information about each pension scheme involved

2. Schedule 2: Actuarial Calculations: Detailed calculations of pension values and sharing percentages

3. Appendix A: Pension Provider Documentation: Copies of relevant pension scheme documentation

4. Appendix B: Court Orders: Copies of relevant court orders affecting the pension arrangement

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Matrimonial Causes Act 1973: Primary legislation governing financial provisions and pension sharing in divorce proceedings in England and Wales

Pensions Act 1995: Introduced the concept of pension sharing on divorce, establishing fundamental principles for pension division

Welfare Reform and Pensions Act 1999: Provides detailed framework for pension sharing orders and their practical implementation in divorce settlements

Pensions Act 2004: Contains updated regulations on pension schemes and protection mechanisms relevant to divorce settlements

Pension Schemes Act 2015: Introduces modern pension freedoms and their implications for divorce settlements, including flexible access provisions

Family Procedure Rules 2010: Sets out the procedural requirements and court processes for handling pension arrangements in divorce settlements

Pension Protection Fund (Pension Sharing) Regulations 2006: Specific regulations governing the sharing of protected pensions in divorce cases

Divorce, Dissolution and Separation Act 2020: Recent divorce law updates that may impact how pension settlements are approached and implemented

FCA Regulations: Financial Conduct Authority regulations regarding pension transfer advice and requirements for professional guidance

The Pensions Regulator Guidance: Regulatory guidance on the practical implementation of pension sharing orders and compliance requirements

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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