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Payment of designated retirement benefit

Payment of the designated benefit would generally commence when the remainder of the retirement benefit starts to be paid to the member spouse/member civil partner/member qualified cohabitant. Alternatively, if the pension adjustment order is made in favour of the dependent spouse/civil partner/qualified cohabitant (rather than for the benefit of a dependent child) they may elect to establish an independent benefit instead.

A transfer payment is then applied (in either the same scheme or another pension arrangement) to provide independent benefits for the dependent spouse/civil partner/qualified cohabitant.

Agreement of trustees to the establishment of an independent benefit is required where occupational pension schemes are involved. No agreement is required where it has been established under a personal retirement savings account or a personal pension.

In a defined benefit scheme, the transfer amount is calculated by reference to the member spouse’s/member civil partner’s/member qualified cohabitant’s salary at the date the transfer is calculated. The non-member spouse/non-member civil partner/non-member qualified cohabitant does not get the benefit of any salary increases (and equally does not suffer any salary decreases) the member spouse/member civil partner/member qualified cohabitant receives between the date of the transfer amount and the date the member spouse/member civil partner/member qualified cohabitant retires, dies or leaves service (whichever is the earlier).