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The Technical Quiz: 14 February

To help you to keep up with the fundamentals of tax, retirement and financial planning, try answering these questions. Answers below.

The Technical Quiz MM 480

QUESTION ONE: The legislation that introduced pension sharing was the Welfare Reform & Pensions Act 1999 and applies to proceedings for divorce or annulment filed on or after

A) 1 January 2000

B) 1 December 2000

C) 1 January 2001

D) 1 December 2001

QUESTION TWO: According to the ONS, the number of divorces in England and Wales for 2010 was approximately

A) 90,000

B) 100,000

C) 110,000

D) 120,000

QUESTION THREE: Under which one of the following schemes, will an ex-spouse, who has qualified for a pension credit as a result of a pension sharing order, be forced to take her benefits under the scheme concerned and not be able to transfer these to another scheme?

A) Private sector DB occupational scheme

B) Personal pension scheme

C) Unfunded public sector scheme

D) Stakeholder pension scheme

QUESTION FOUR: Against which one of the following can a pension sharing order not be made?

A) A lifetime annuity in payment

B) An unfunded public sector scheme

C) Basic State Pension

D) State Second Pension

QUESTION FIVE: Where an ex-spouse is being provided with pension credit rights under her ex-husband’s private sector DB scheme, which one of the following statements is true?

A) Her benefits must be on a final salary basis.

B) Her benefits will be on a basis determined by the scheme rules.

C) Her benefits may not be drawn prior to her ex-husband’s normal retiring date under the scheme.

D) She will not be permitted to transfer her pension credit rights to another registered scheme.

Questions supplied by Technical Connection

_________

Answers

1 B
2 D
3 C
4 C
5 B

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