Pension Warning: Retirees Could Face ‘Unexpected Tax Bills’ Thanks To New Law – What To Do Personal Finance

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Pension Warning: Retirees Could Face ‘Unexpected Tax Bills’ Thanks To New Law – What To Do Personal Finance


“With the law set to speed up the divorce process to six months from start to finish, couples must bridge the financial divide before the legal process begins, or they could face unforeseen tax bills. , the loss of their retirement benefits and inheritance rights. ”
The specific legislation referred to by Kay was the Divorce Dissolution and Separation Act.

This law should become law in the fall of 2021.

According to the government, in the event of a divorce, the court (s) may treat their state pension, or part of it, as a financial asset, which in turn could be shared as part of a financial settlement.

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