Welcome to the DAD.Info forum: Important Information – open to read:
Our forum aims to provide support and guidance where it can, however we may not always have the answer. The forum is not moderated 24 hours a day, so If you – or someone you know – are being harmed or in immediate danger of being harmed, call the police on 999.
Alternatively, if you are in crisis, please call Samaritans on 116 123.
If you are worried about you or someone you know is at risk of harm, please click here: How we can help
Hi - been divorced several years, I have no problem paying what I owe to my ex, which we base on the gov.uk calculator, and do so regularly.
However I'm soon going to be retiring and need to understand how the pension (not state pension, not quite old enough for that yet) I will get affects things.
My ex had the usual 50% of my pension pot when we divorced, and I have no problem with that. If I take regular payments those will count as taxable income (even though she's already had half) and she will get her cut and again that makes sense to me.
What I need to know is, how is the tax free lump sum treated if I take it? From a cursory reading of the rules what matters is taxable income, which the regular pension payments are (even if they're not big enough to actually pay tax on). But the lump sum isn't, so I wouldn't owe her any extra if I took it.
Is that right - which seems reasonable as she will get her own tax free lump sum based on what I've already transferred over - and will that tax free lump sum then count as an asset on which 8% income is assumed (which is a ludicrous rule, frankly - show me where I can get an 8% return!) unless I sink it into a house?
I can't find any clarity, anywhere, on what rules apply (I did find an old thread on here but it was inconclusive). Does anyone have any experience of dealing with this?
Hi,
I recommend you join this group for paying parents. Very experienced members there. Please make sure to answer their questions on their joining page: https://facebook.com/groups/239699060076601/
Welcome to the DAD.info forum.
We don’t like to set ‘rules’, but to make sure that you and the other dads are kept safe, we have some requests. When engaging with the forum, please be aware of the following:
- The forum is not moderated 24 hours per day.
- Many of the moderators do so on a voluntary basis. Whilst they may be able to provide some guidance, advice or support, they may not be able to deal with specifics.
- We are not an emergency crisis service so if you or someone else is in immediate danger, please call emergency services.
- If you are concerned about the safety of a child, please click here to find the support you can get for them (link to new page)
- If you are in crisis, please call Samaritans on 116 123. They are open 24 hours a day, 7 days per week.
We hope you find this forum a supportive environment and thank you for joining us.