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Pension attachment/ earmarking orders in divorce
Important information - the value of investments can go down as well as up so you may get back less than you invest. Tax treatment depends on individual circumstances and all tax rules may change in the future. You cannot normally access your SIPP until age 55 (57 from 2028).
What is a pension attachment/earmarking order?
Pensions are shared according to the terms of your divorce. But one of the ways a pension can be split is through a pension attachment order (or earmarking in Scotland).
This is when a share of one of your pension benefits is paid directly to the ex-partner. It only begins when the pension member starts to draw an income or dies, so there is no clean break between you and your ex-partner after divorce.
Only a court can order that one of you receives one or more, and all or part of, the following benefits:
- Pension commencement tax-free lump sum.
- Pension income (this doesn't apply in Scotland).
- Death-in-service lump sum death benefits.
You can go to court to get your pension attachment/earmarking order varied after it has been agreed, if you both agree.
In view of its inherent drawbacks, on the whole this option has been seldom used in recent years
| Benefits of pension attachment/earmarking orders | Drawbacks of pension attachment/earmarking orders |
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Other ways to divide your pension
Offsetting
You or your ex-partner get a share of another asset, rather than the actual pensions.
Pension sharing orders
A share of the pensions is transferred to you or your ex-partner.
Important information - this information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice.
