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.
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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
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
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
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