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Jacobs sets up training for lawyers

Richard Jacobs Pensions & Trustee Services is devising a training course to assist lawyers in completing the new-look pension questionnaire for divorcing couples.

From October, divorcing couples will face new disclosure paperwork surrounding their finances. The courts will be able to order respondents to provide a four-page summary of their pension benefits.

This includes a previously unrequired depth of information, including the funding status of the scheme and basis of the transfer value calculation.

Director Richard Jacobs is seeking Law Society accreditation as a certified training provider. He says solicitors need to be made aware of the options for shared pension arrangements, such as whether to transfer out of the employer’s scheme.

He says any pension sharing arrangements from October will have to be agreed earlier in the case, typically, when proceedings can be at their most bitter.

Jacobs says: “The form is complicated and really needs to be completed by an actuary. The legal profession finds pension sharing difficult to cope with and we are putting together a course that will help them.”

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