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L&G pension to accept divorcee credits

Legal & General is introducing a new feature to its buy out policy which enables it to accept pension credits for ex-spouses in the event of pensions splitting following divorce.

L&G believes the new feature will appeal particularly to pension scheme trustees where their scheme rules do not cater for pension entitlements to be held by anyone other than current or ex-employees.

Pensions marketing director Andy Agar says: “We see this as an excellent business opportunity for IFAs operating in the occupational pensions schemes market. It means are complete range of pension plans are now fully geared up to cater for pension credits arising from divorce.”

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