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Pensions splitting deadline set for end of 2000

The Government has set a target date of the end of 2000 to implement its pension splitting plans for divorcees.


It has now published draft legislation outlining its plans which will allow clean break settlements, dividing pension benefits between spouses on divorce.


Currently the law only allows pensions rights to be shared by &#39earmarking&#39 part of the final benefits to the spouse.


These current rules have created problems as the ex-partner needs to keep tracks on the other partner until retirement. These are further compounded by the fact that benefits could be lost if the ex-partner dies before retirement.


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