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Pension sharing definition

What does Pension sharing mean? In family finance cases, pension sharing means dividing a member’s retirement benefits between spouses or civil partners on divorce, dissolution or annulment. In England & Wales, Scotland and Northern Ireland it is a statutory mechanism implemented by a Pension Sharing Order (PSO). A PSO specifies a percentage of the member’s cash equivalent transfer value, which is carved out to create a pension credit for the recipient and a corresponding pension debit for the member. Trustees or managers implement the credit either internally within the scheme or by external transfer, subject to scheme rules and charges. “Pension sharing” is distinct from...

Pension sharing order: pension credit to bankrupt spouse or trustee in bankruptcy?

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A pension sharing order

A pension sharing order enables one party to obtain, in their own name and in their own right, benefits directly debited from the other party’s pension scheme, and secures a clean break between the parties regarding pensions. Sections 11 and 12 of the Welfare Reform and Pensions Act 1999 (WRPA 1999) state that pension rights under approved pension schemes do not vest in a trustee in bankruptcy, provided the bankruptcy petition was presented on or after 29 May 2000 under the legislation. Consequently, if the individual holding the pension to be shared is made bankrupt, the court’s authority to make a pension sharing order should remain unaffected in law...

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Katherine Illsley

Harcourt Chambers

Katherine’s family practice covers matrimonial finance, TOLATA, Schedule 1, and private law children proceedings. She has experience acting for local authorities, guardians and parents in public law children cases, including in cases involving allegations of non-accidental injuries.Katherine also is regularly instructed in housing and property work, and due to the frequent crossover with family law has a particular interest in cases involving trusts....

Web page updated on 27/05/2026

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